2022-05-24

Employment Regulations (Amendment No. 1) 2022

The Board of Directors of the Abu Dhabi Global Market enacted regulations to amend the Employment Regulations 2019 by introducing a new section 61A. This new section empowers the Board to establish rules for fees payable to the Registrar for performing functions, providing services, and handling documents. The regulations also correct terminology regarding hourly rates and redefine the calculation of the hourly rate based on daily wages and normal working hours.

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United Arab Emirates

Financial Services Regulatory Authority

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1 Annex E EMPLOYMENT REGULATIONS (AMENDMENT No. 1) 2022 Regulations to amend the Employment Regulations 2019 Date of Enactment: [⚫] 2022 The Board of Directors of the Abu Dhabi Global Market, in exercise of its powers under Article 6(1) of Law No. 4 of 2013 concerning the Abu Dhabi Global Market issued by his Highness the Ruler of the Emirate of Abu Dhabi enacts the following Regulations:

  1. Amendments to the Employment Regulations 2019 The Employment Regulations 2019 shall be amended by – (1) In the Table of Contents, insert a new section 61A immediately after section 61. (2) In section 52: (a) in section 52(1), replace the words “Hourly Rate” with the words “hourly rate”; and (b) in section 52(2) replace the words “The appropriate Hourly Rate” with the words “For the purpose of this section, the appropriate hourly rate”. (3) After section 61, insert a new section 61A as follows: “61A.Fees payable to the Registrar (1) The Board may make rules requiring the payment to the Registrar of fees in respect of- (a) the performance of any of the Registrar’s functions, or (b) the provision by the Registrar of services or facilities for purposes incidental to, or otherwise connected with, the performance of any of the Registrar’s functions. (2) The matters for which fees may be charged include: (a) the performance of a duty imposed on the Registrar or the Board, (b) the receipt of documents delivered to the Registrar, and (c) the inspection, or provision of copies, of documents kept by the Registrar. (3) The rules may- (a) provide for the amount of fees to be fixed by or determined under the rules, (b) provide for different fees to be payable in respect of the same matter in different circumstances, (c) specify the person by whom any fee payable under the rules is to be paid,

2 Annex E (d) specify when and how fees are to be paid. (4) Fees received by the Registrar are to be paid into such account as the Registrar may direct, from time to time.”. (4) In section 65, immediately after the words “Hourly Rate means” replace the words “the rate under section 52(2)” with the words “the Daily Wage divided by the number of normal working hours in a Business Day for that Employee under the Contract of Employment;”. 2. Short title, extent and commencement (1) These Regulations may be cited as the Employment Regulations (Amendment No. 1) 2022. (2) These Regulations shall apply in the Abu Dhabi Global Market. (3) These Regulations come into force on the date of their publication.