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2018-04-22

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Cabinet Resolution No 19 of 2018 Amending Executive Regulations of Federal Law No 8 of 2004 on Financial Free Zones

The UAE Cabinet issued Resolution No 19 of 2018 to amend the executive regulations of Federal Law No 8 of 2004 concerning Financial Free Zones. This resolution replaces Article 7, Clause 2 of the previous Cabinet Resolution No 28 of 2007 to establish that Financial Free Zones are inspected by a committee formed via a Cabinet resolution proposed by the Minister of Finance. The new provisions determine the committee's formation, competences, and related provisions, entering into force upon issuance and publication in the Official Gazette.

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CABINET RESOLUTION NO. (19) OF 2018 AMENDING CABINET RESOLUTION NO. (28) OF 2007 REGARDING THE EXECUTIVE REGULATIONS OF FEDERAL LAW NO. (8) OF 2004 REGARDING FINANCIAL FREE ZONES The Cabinet, having reviewed:- The Constitution; Federal Law No. (1) of 1972 Regarding the Competences of the Ministries and the Powers of Ministers, as Amended; Federal Law No. (8) of 2004 Regarding Financial Free Zones; Cabinet Resolution No. (28) of 2007 Regarding the Executive Regulations of Federal Law No. (8) of 2004 Regarding Financial Free Zones; and Based on the Cabinet approval, Hereby resolves as follows:
Article 1
The text of Clause (2) of Article (7) of the Cabinet Resolution No. (28) of 2007, referred to hereinabove, shall be replaced by the following text:
2. The Financial Free Zones shall be inspected by a committee to be established by virtue of a
Resolution of the Cabinet, upon the proposal of the Minister of Finance. Such resolution shall determine its formation, competences and the provisions related thereto.
Article 2
Any provision contradicting or conflicting herewith shall be repealed.
Article 3
The provisions of this Resolution shall enter into force from the date of its issuance and it shall be published in the Official Gazette. Signed Mohammed bin Rashid Al-Maktoum Prime Minister Issued by Us:
On: 6 Sha'ban 1439 AH.
Corresponding to: 22 April 2018 AD.

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Federal Law No. 8 of 2004 Conce…2004Federal Law No. 8 of 2004 Concerning Financial Free Zones (2004-03-14)Cabinet Resolution No 28 of 200…2007Cabinet Resolution No 28 of 2007 on the Implementing Regulations of Federal Law No. 8 of 2004 Concerning Financial Free Zones (2007-07-30)Cabinet Resolution No 19 of2018 Amending Executive Regul…2018-04-22 · this documentCabinet Resolution No 19 of 2018 Amending Executive Regulations of Federal Law No 8 of 2004 on Financial Free Zones (2018-04-22)
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This document amends: Cabinet Resolution No 28 of 2007 on the Implementing Regulations of Federal Law No. 8 of 2004 Concerning Financial Free Zones

Source: Financial Services Regulatory Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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