Friday, January 30, 2015

Legal Updates - January 29, 2015

New Royal Decrees – Consumer Protection Law and Competition Protection and Monopoly Prevention Law

Two very significant legislations have been issued in the month of December. These Royal Decrees are (i) the Royal Decree 66/2014 promulgating the Consumer Protection Law (the new Consumer Protection Law replaces the old Consumer Protection Law); and (ii) the Royal Decree 67/2014 promulgating the Competition Protection and Monopoly Prevention Law. We have discussed the above legislation in detail in this month’s newsletter.


Wednesday, January 28, 2015

Compliance in Oman

Compliance with the laws of Oman has always been a priority for business leaders in the Sultanate of Oman. Every member of the senior management of a company (including the CEO) is aware of their influence on the culture and values of the company they represent.

Given the senior management’s primary responsibility for the acts and omissions of a company, it becomes important that the company has an effective compliance programme. A compliance programme can help each employee to do his or her part to contribute to the image and reputation of the company.


Tuesday, January 20, 2015

How to Manage Contract Risk in Procurement (Part 2)

Specific Clauses and their Validity under Omani Law

Continuing our series of articles on managing risk in procurement contracts, the second installment deals with some specific legal issues arising which can, and should, be covered in written agreements entered into between the buyer and seller in order to reduce their respective risks.

This month we will look at the use of exclusion, limitation, liquidated damages, penalty, and entire agreement clauses and their treatment and validity under the Omani Civil Code pursuant to Royal Decree 29 of 2013 (the “Civil Code”).


Monday, January 12, 2015

Sultanate of Oman: The Consumer Protection Law

News headlines concerning the expiry of and re-packaging of goods, substandard production methods and incorrect product labelling now feature prominently in Oman news. The Consumer Protection Law (the “CPL”), enacted pursuant to Royal Decree 66 of 2014 which has repealed Royal Decree 81 of 2002, is a direct response to rooting out monopolistic market practices and the prevention of trading in or advertising counterfeit or unauthorized products or services, in an attempt to better regulate the activities of suppliers, advertisers and agents alike.


Tuesday, January 6, 2015

Event: Compliance: More Than a Box Ticking Exercise

Curtis Oman hosted an Insight Series Breakfast Seminar at the Grand Hyatt Hotel, Muscat on Tuesday 9 December, 2014 entitled "Compliance: More Than a Box Ticking Exercise" which 83 leading business community members attended.


Monday, January 5, 2015

Sultanate of Oman: The Competition Protection and Monopoly Prevention Law

The enactment of the Competition Protection and Monopoly Prevention Law (the “Competition Law”), pursuant to Royal Decree 67 of 2014, is evidence of the Sultanate of Oman’s commitment to promote the “freedom of economic activity practice and to establish the principle of market rules and freedom of prices” and prevent the “practice of any monopolistic behaviour that would affect the market.” Prior to its enactment, competition law and issues relating to the prohibition of monopolistic market practices were dealt with within several laws.