Regulatory Alerts2015-01-06
Consultation Paper No 2 of 2015 - Companies Regulations
The Board of Directors of the Abu Dhabi Global Market (ADGM) issued this consultation paper to invite public comment on proposed Companies Regulations based on the UK Companies Act 2006. The draft regulations introduce a deregulated 'restricted scope company' (RSC) vehicle with reduced disclosure requirements and abolish the concept of nominal share value for all ADGM companies. The proposals also establish procedures for company re-domiciliation and modify director duties to align with ADGM's common law framework while ensuring compliance with FATF standards.
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