Decree
No. (53) of 2005
Concerning
Al
Maktoum Foundation[1]
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We, Maktoum bin
Rashid Al Maktoum, Ruler of Dubai, do hereby issue this Decree.
In
implementing the provisions of this Decree, the following words and expressions
will have the meaning indicated opposite each of them unless the context
implies otherwise:
|
Emirate: |
The Emirate of Dubai. |
|
Deputy Ruler: |
His Highness the Deputy Ruler of the
Emirate of Dubai. |
|
AMF: |
Al Maktoum Foundation |
|
Board of Trustees: |
The board of trustees of the AMF. |
|
Chairman: |
The chairman of the Board of Trustees
of the AMF. |
|
Director General: |
The director general of the AMF. |
Pursuant
to this Decree, a private foundation named the "Al Maktoum
Foundation" is established. The AMF will have legal personality and the
full capacity to act in accordance with its objectives.
The
AMF aims to:
1.
promote religious, charity, and
humanitarian work;
2.
provide monetary or in-kind aid to
support charity and humanitarian work within and outside of the Emirate; and
3.
establish, support, and manage
religious, charity, and humanitarian projects and centres, including cultural,
social, and educational centres.
Effective
as of the date on which this Decree is issued, the ownership
of all real property, facilities, movables, and other assets already registered
in the name of Al Maktoum Foundation,
operating prior to the effective date hereof, are hereby transferred
to the AMF. The AMF will be liable for all Al Maktoum Foundation’s obligations
and debts of any kind.
The
capital of the AMF is fifty million dirhams (AED 50,000,000.00) fully paid by
His Highness Sheikh Hamdan bin Rashid Al Maktoum, the Deputy Ruler of Dubai.
The
permanent head office of the AMF will be located in the city of Dubai. The AMF
may open branches within and outside of the Emirate.
The
AMF will be managed by a Board of Trustees comprised of the Chairman, vice
chairman and a number of other
members. The members of the Board of Trustees will to be
appointed, and their remuneration will
be determined, pursuant to a resolution of His
Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai. The term
of membership in the Board of Trustees will be three (3) years, renewable for
the same period.
The
Board of Trustees will appoint the Director General and determine his grade and
salary.
The
Board of Trustees will have the functions to:
1.
prepare the charter and the bylaws
regulating the administrative and financial affairs of the AMF;
2.
establish the general policy of the
AMF;
3.
appoint employees to the AMF;
4.
approve the annual budget of the AMF;
and
5.
develop the annual work plan and
charitable activities and programmes of the AMF.
The
Board of Trustees will convene at the invitation of its Chairman at least once
every three (3) months. Meetings of the Board of Trustees will be valid if
attended by the majority of its members, provided that the Chairman or vice
chairman is in attendance. Resolutions of the Board of Trustees will be passed
by majority vote of attending members; and in
the event of a tie, the chair of the meeting will have the casting vote.
The
sources of income of the AMF will consist of the property and assets allocated
to it by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of
Dubai; and of the
donations, grants, bequests accepted by the Board of Trustees.
The
Director General will represent the AMF in its relations with third parties and
before the judiciary. Neither the Chairman, nor the vice chairman, nor any
member of the Board of Trustees, nor the Director General will,
in the course of managing and operating the AMF, be liable to third parties for
any act or omission with respect to such management or operation. The AMF will
be solely liable to third parties for such an act or omission.
The
AMF will be exempt from all taxes
and all government, municipal, and customs fees and duties.
This
Decree comes into force on the day on which it is issued, and will be published
in the Official Gazette.
Maktoum bin Rashid
Al Maktoum
Ruler of
Dubai
Issued in Dubai on 13 December 2005
Corresponding to 11 Thu al-Qidah 1426 A.H.
©2020 The Supreme Legislation Committee in the
Emirate of Dubai
[1]Every effort has been made to produce an
accurate and complete English version of this legislation. However, for the
purpose of its interpretation and application, reference must be made to the
original Arabic text. In case of conflict, the Arabic text will prevail.