Khalifa bin Zayed issues a law amending some provisions of the Al Ain Farms Law

0
91


Sharjah 24 – WAM:
In his capacity as Ruler of Abu Dhabi, His Highness Sheikh Khalifa bin Zayed Al Nahyan issued a law amending some provisions of Law No. 5 of 1996 regarding Al Ain farms for animal production.

The law stipulates the addition of a new article stipulating the non-receipt of profits by their owners, after fifteen years have passed from the date of their entitlement, and will be transferred to the farmer’s accounts, for exploitation in development programs, and that in the event of the death of one of the shareholders, and the absence of an heir for him, it will be ownership These shares are a charitable endowment in accordance with the legislation in force.

The text of Article 25 of Law No. 5 of 1996 has been replaced, whereby the law allowed the circulation of shares distributed to citizens benefiting from social affairs services, in accordance with the controls issued by the Board of Directors.





LEAVE A REPLY

Please enter your comment!
Please enter your name here