The Capital Market Law (“Capital Market Law”) was amended on 10 November 2014 by way of Royal Decree 59 of 2014 (“Amending Law”). The Amending Law came into effect on the date of issue.
The Amending Law amends Articles 7(b), 12, 13, 17 (second paragraph), 52(2), 60, 63 A(3), 64, 65, 66, 67 and 68. The Amending Law has also added two new Articles – 68(bis) and 72. This article aims to highlight the significant amendments brought to the Capital Market Law.
In part one of our “Managing Contract Risk in Procurement” series, we provided a general introduction regarding the importance of analysing the risks associated with the product or service to be provided prior to entering into the contract. In this installment we deal with the actual identification and assessment of those risks.
Issued on 14 December 2014 by the Ministry of Agriculture and Fisheries (“MOAF”), Ministerial Decision No. 312 of 2014 (“MD 312 of 2014”) was introduced to regulate the trade and control of fish markets in the Sultanate of Oman and is the focus of this article.
The Ministry of Commerce & Industry (“MOCI”) has recently been requiring that all authorised managers and signatories (“AMS”) of newly formed limited liability companies become full-time residents in Oman (the “Residency Requirement”). As part of the registration process, the Ministry now requires that the resident cards of AMS be submitted. This is a significant change of policy which will have far-reaching implications for foreign investors in Omani companies.
The Residency Requirement has raised many questions, some of which we have provided answers to in this post.
Simon Ward, Managing Partner
Dominic Pilkington, Partner
Bruce Palmer, Counsel
Curtis, Mallet-Prevost, Colt & Mosle LLP
Qurum Plaza
108 Al Wallaj Street
P.O. Box 1803; PC 114
Muscat, Sultanate of Oman
Tel: +968 2465 2600 or +968 2456 4495
