Mohammed issues law converting Dubal into PJSC

In his capacity as Ruler of Dubai, UAE Vice President and Prime Minister His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued Law No. (1) of 2014 converting Dubai Aluminium (Dubal) into a private joint stocks company.

Pursuant to the Law, the name of the new company is "Dubai Aluminium PJS" with a declared capital of Dh3 billion, headquartered in Dubai and may establish branches inside and outside the United Arab Emirates.

Article (6) of that law stated that the Dubai Aluminium PJS subrogates Dubai Aluminium in all legal and business obligations and rights starting from the date of effective of this law, and the employees of Dubai Aluminium shall benefit from their vested right.

Law No. (1) of 2014 null and void Law No. (17) of 2011 pertaining Dubai Aluminium, Decree No. (11) of 2013 pertaining the formation of the Board of Directors of Dubai Aluminium and any other legislation that contradict or challenge it; the rules and regulations applied currently in Dubai Aluminium, prior to this law, remains active to the limitation that do not contradict or challenge with it, unless replaced and/or amended. The law is considered active from the date of publication in the Official Gazette.

The Supreme Council of Energy

In his capacity as Ruler of Dubai, UAE Vice President and Prime Minister issued Decree No. (1) of 2014 attaching a representative from Dubai’s Road and Transport Authority (RTA) to the Supreme Council of Energy. The decree is considered active from the date of publication in the Official Gazette.


 

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