Khalifa issues a law amending some provisions of the Al Ain Farms Law – across the Emirates – news and reports

0
92


His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, may God protect him, in his capacity as Ruler of the Emirate of Abu Dhabi, issued a law amending some provisions of Law No. (5) of 1996 regarding Al Ain farms for animal production.

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

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.

Print
Email








LEAVE A REPLY

Please enter your comment!
Please enter your name here