Regulatory Alerts2019-01-01
Consultation Paper No 6 of 2019 – Proposed Amendments to ADGM Commercial Legislation
The Abu Dhabi Global Market Registration Authority proposes amendments to key commercial regulations to modernize administrative processes and align with federal anti-money laundering standards. Key changes include abolishing paper certificates in favor of electronic versions, expanding the definition of family members for restricted scope companies, and clarifying voting rights for cell companies. The proposals also rename annual returns to confirmation statements, restrict investment companies from being formed as entities limited by guarantee, and adjust beneficial ownership thresholds to match the 25% standard.
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