Law No. (11)
of 2015
Establishing
the
Dubai World
Central Corporation[1]
ـــــــــــــــــــــــــــــــــــــــــــــــ
We, Mohammed bin
Rashid Al Maktoum, Ruler of Dubai,
After perusal of:
Law No.
(22) of 2007 Establishing the Dubai Air Navigation Services Corporation;
Law No.
(23) of 2007 Establishing the Dubai Airports Corporation;
Law No.
(7) of 2008 Concerning Public Debt Procedure;
Law No.
(35) of 2009 Concerning Management of the Public Funds of the Government of
Dubai and its amendments;
Law No.
(19) of 2010 Concerning the Dubai Civil Aviation Authority;
Law No.
(2) of 2012 Establishing the Dubai Aviation Engineering Projects Corporation;
and
Law No.
(10) of 2015 Concerning the Dubai Aviation City Corporation,
Do hereby issue
this Law.
This Law
will be cited as “Law No. (11) of 2015 Establishing the Dubai World Central
Corporation”.
The
following words and expressions, wherever mentioned in this Law, will have the
meaning indicated opposite each of them unless the context implies otherwise:
|
Emirate: |
The Emirate of Dubai. |
|
Government: |
The Government of Dubai. |
|
DAC: |
The Dubai Aviation City. |
|
DACC: |
The Dubai Aviation City Corporation. |
|
Chairman: |
The chairman of the DACC. |
|
DWCC: |
The Dubai World Central Corporation established under this Law. |
|
Executive Chairman: |
The executive chairman of the DACC. |
|
CEO: |
The chief executive officer of the DWCC. |
|
Affiliated Corporation: |
Any corporation affiliated to the DACC, including the Dubai Air Navigation Services Corporation, the Dubai
Airports Corporation, the Dubai Aviation Engineering Projects Corporation,
and any other corporation affiliated to the DACC under any legislation. |
|
Operating Entity: |
Any company or establishment licensed to operate in the DAC. |
|
Free Zone: |
The free zone within the DAC. |
|
DAC Zones: |
The Free Zone and other non-free zones comprising the DAC, excluding
the area allocated to Al Maktoum International Airport. |
|
Logistic Services: |
The services related to the management of the flow of goods,
commodities, power, information, services, and other resources that are
necessary to complete the production, manufacturing, exporting, importing,
and other processes. These services include, but are not limited to,
transportation, storage, packaging, installation, delivery, development, and
gathering information. |
Pursuant
to this Law, a public corporation named the “Dubai World Central Corporation”
is established. The DWCC will be managed on a commercial basis, and will have
legal personality, financial and administrative autonomy, and the legal
capacity required to undertake all acts and dispositions that ensure the
achievement of its objectives. The DWCC will be affiliated to the DACC.
The head
office of the DWCC will be located in the DAC, and the DWCC may establish
branches and offices within and outside of the DAC.
The DWCC aims
to:
1.
attract capital
to the DAC and provide a favourable environment to establish investment,
commercial, real estate, and service projects within the DAC;
2.
improve the
services rendered in the fields of air transport, air freight, and air
navigation;
3.
attract
international companies specialised in the various fields of the aviation
industry to establish branches in the DAC,
and provide them with all facilities required to conduct their business and
activities in the DAC;
4.
contribute to the
development of the logistics sector in the Emirate; and
5.
create a
favourable environment to attract companies working in the fields of aviation;
training, education, and research related to aviation and air freight
activities; combined transport; Logistic Services; and relevant support
services.
a.
For the purposes
of achieving its objectives, the DWCC will have, within the DAC Zones, the
duties and powers to:
1.
develop, manage, and supervise the
infrastructure of the DAC, and provide it with required services;
2.
subdivide areas, land, and real property;
construct buildings, warehouses, hangars, and any other facilities designated
for commercial, professional, residential, or industrial purposes; and lease out
or sell them after obtaining the relevant required authorisations from the DACC;
3.
develop and support commercial services
related to combined transport and Logistic Services sectors; and supervise the
development of the information technology, e-commerce, and communications
industries, and their related services;
4.
provide all support and relevant services
for conducting the activities of research, development, education, and studies
related to the aviation industry, combined transport, and Logistic Services;
5.
invest the property allocated by the DACC
to the DWCC and dispose of them in any legal manner;
6.
issue licences to Operating Entities
within the Free Zone in accordance with legislation in force;
7.
monitor the activities of Operating Entities
within the Free Zone in accordance with this Law and the resolutions issued in
pursuance hereof;
8.
establish wholly-owned companies and
hold shares in existing companies or in companies under incorporation, after
obtaining the relevant required authorisations from the DACC;
9.
conclude contracts and agreements with
other corporations, companies, and consultancy houses in the fields related to
its functions under this Law;
10.
organise and participate in exhibitions
and conferences specialised in the aviation industry, combined transport, and Logistic
Services;
11.
collect the fees prescribed for the
services provided to Operating Entities within the Free Zone; and
12.
cooperate and coordinate with the Affiliated
Corporations to enable the DWCC to perform its duties under this Law, and
develop appropriate solutions to overcome work obstacles, if any.
b.
The DWCC may,
after obtaining the authorisation required in this regard from the DACC, assign
any of the functions set out in paragraph (a) of this Article to any public or
private entity under a relevant written agreement which provides for the rights
and obligations of both parties.
a.
The Chairman will
undertake the general supervision of the work of the DWCC, and make the
required decisions, as he deems appropriate, to achieve the objectives of the
DWCC, including to:
1.
approve the general policy; the
strategic, investment, and development plans; and the programmes of action of
the DWCC;
2.
approve the draft annual budget of the
DWCC, submit the same to competent entities for final approval, and approve the
final accounts of the DWCC;
3.
approve the organisational structure of
the DWCC and the resolutions regulating its administrative, financial, and
technical work; and
4.
approve borrowing and financing
programmes proposed by the Executive Chairman, subject to the legislation in
force in the Emirate.
b.
The Chairman may
delegate any of his powers under paragraph (a) of this Article to the Executive
Chairman, provided that such delegation is specific and in writing.
The Executive
Chairman will undertake the supervision of the performance of the executive
body of the DWCC of its functions under this Law. The Executive Chairman may in
particular:
1.
approve the
general policy; the strategic, investment, and development plans; and the programmes
of action of the DWCC, and supervise their implementation upon approval by the
Chairman;
2.
submit the draft
annual budget and final accounts of the DWCC to the Chairman;
3.
propose the borrowing
programmes required to obtain the finance that enables the DWCC to achieve its
objectives, and submit the same to the Chairman for approval;
4.
approve the
organisational structure of the DWCC, and submit the same to the Chairman for
final approval;
5.
approve the resolutions
regulating the administrative, financial, and technical work of the DWCC, and submit
the same to the Chairman for final approval;
6.
supervise the
achievement by the DWCC of its objectives;
7.
approve the
works, projects, and activities aiming at developing the strategic and
investment relationships and partnerships of the DWCC at the local and
international levels; and
8.
perform any other
duties related to the work of the DWCC as assigned or delegated to him by the
Chairman.
A CEO will
be appointed to the DWCC pursuant to a resolution of the Chairman issued upon the
recommendation of the Executive Chairman.
The CEO
will manage the DWCC and its administrative, technical, and financial affairs,
and will represent the DWCC before third parties. For this purpose, the CEO may
in particular:
1.
propose the
strategic plans and general policy of the DWCC, and submit the same to the
Executive Chairman for approval;
2.
follow up the implementation of the strategic,
investment, and development plans and the general policy of the DWCC approved
by the Chairman; and the implementation of the resolutions issued by the Chairman
in this regard;
3.
prepare the draft
annual budget and the final accounts of the DWCC, and submit the same to the Executive
Chairman;
4.
follow up the implementation
of works, projects, and activities of the DWCC, and oversee phases of
completion of the same;
5.
propose the
organisational structure of the DWCC, and submit the same to the Executive
Chairman for approval;
6.
propose the
resolutions regulating the administrative, financial, and technical work of the
DWCC, and submit the same to the Executive Chairman for approval;
7.
conclude the
contracts, agreements, and memoranda of understanding required to achieve the
objectives of the DWCC, in line with the financial approval authorities
prescribed by the relevant legislation in force at the DWCC;
8.
coordinate with concerned
entities within or outside the Emirate regarding the strategic planning process,
for the purpose of achieving the objectives of the DWCC;
9.
propose works,
projects, and activities aiming at developing the strategic and investment
relationships and partnerships of the DWCC at the local and international
levels, and submit the same to the Executive Chairman for approval;
10.
submit periodic reports
on work progress at the DWCC to the Executive Chairman to take the appropriate actions
in this regard; and
11.
perform any other
duties required for the achievement of the objectives of the DWCC.
All
Government Entities in the Emirate, including entities responsible for the transport
and infrastructure sectors and the Affiliated Corporations, must cooperate with
the DWCC to enable it to achieve its objectives.
Neither
the Government nor the DACC will be liable to third parties for any debts or
obligations incurred by the DWCC. The DWCC will be solely liable to third
parties for satisfying such debts or obligations.
Except in
cases of fraud or gross fault, neither the Chairman, nor the Executive
Chairman, nor the CEO, in the course of managing the DWCC or its operations, will
be liable to third parties for any act or omission in respect of such
management. The DWCC will be solely liable to third parties for such act or
omission.
The
financial resources of the DWCC will consist of:
1.
the funds
allocated to the DWCC as part of the DACC resources;
2.
proceeds
generated by the DWCC from conducting its business and activities; and
3.
any other
resources approved by the Chairman.
a.
The DWCC will
have an independent budget which reflects its actual financial position.
b.
In regulating its
accounts and records, the DWCC will apply commercial accounting rules and
principles in accordance with recognised international standards.
c.
The financial
year of the DWCC will commence on 1 January and will end on 31 December of each
year, except that the first financial year will commence on the date on which
this Law comes into force and will end on 31 December of the following year.
a.
Pursuant to this
Law, all the rights, obligations, responsibilities, and authorities assigned to
the Dubai World Central Directorate at the DACC, as determined by the Executive
Chairman, are transferred to the DWCC.
b.
In coordination
with the DACC, all employees of the Dubai World Central Directorate are hereby transferred
to the DWCC without prejudice to their existing rights.
The
Chairman will issue the resolutions required for the implementation of this
Law.
Any
provision in any other legislation will be repealed to the extent that it
contradicts the provisions of this Law.
This Law
will be published in the Official Gazette and will come into force on the day
on which it is published.
Mohammed bin Rashid Al Maktoum
Ruler of Dubai
Issued in Dubai on 11 April 2015
Corresponding to 22 Jumada al-Thaniyah 1436 A.H.
©2015
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.