Law No. (12) of 2021

Amending Law No. (5) of 2009

Establishing the Meydan City Corporation^{^[1]}

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We, Mohammed bin Rashid Al Maktoum, Ruler of Dubai,

After perusal of:

Law No. (5) of 2009 Establishing the Meydan City Corporation (the “Original Law”); and

Decree No. (25) of 2020 Reconstituting the Board of Directors of the Meydan City Corporation,

Do hereby issue this Law.

Superseded Articles

Article (1)

Articles (2), (6), (7), (8), and (9) of the Original Law are hereby superseded by the following:

Definitions

Article (2)

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.
Ruler:	His Highness the Ruler of Dubai.
Government:	The Government of Dubai.
MC:	Meydan City.
Free Zone:	The free zone of the MC.
MCC:	The Meydan City Corporation.
Chairman:	The chairman of the MCC.
CEO:	The chief executive officer of the MCC.
Establishments:	These include all kinds of sole proprietorships and commercial companies licensed to operate within the MC and the Free Zone in accordance with the provisions of this Law, the resolutions issued in pursuance hereof, and other legislation in force in the Emirate.

Organisational Structure of the MCC

Article (6)

The organisational structure of the MCC will consist of the following organisational levels:

1. the Chairman;

2. the CEO; and

3. the executive body.

Chairman of the MCC

Article (7)

A Chairman will be appointed to the MCC pursuant to a decree of the Ruler.

Functions of the Chairman

Article (8)

a. The Chairman will undertake the general supervision of the MCC and ensure that the MCC achieves the objectives for which it is established. For this purpose, the Chairman will have the duties and powers to:

1. approve, and supervise the implementation of, the policies and strategic and operational plans of the MCC;

2. approve the services, work, projects, and activities that the MCC intends to perform;

3. approve the organisational structure of the MCC;

4. approve the borrowing and financing programmes proposed by the CEO, subject to the legislation in force in the Emirate; and submit the same to the competent entity in the Emirate for final approval;

5. approve the bylaws, regulations, and resolutions regulating business and activities within the MC;

6. approve the rules and procedures for licensing and registration of Establishments;

7. approve the resolutions and bylaws regulating the administrative, financial, and technical work of the MCC;

8. approve the rules and provisions related to issuing licences and registration of Establishments;

9. approve the fees and charges for the services provided by the MCC, and submit the same to the competent entities in the Emirate for final approval;

10. approve the areas of investment and acts of disposition of the MCC property;

11. approve the annual draft budget and financial statements of the MCC;

12. approve the annual report on the activities and financial position of the MCC;

13. conduct annual reviews of the performance reports of the MCC and take the necessary action in respect thereof;

14. approve the resolutions, bylaws, and regulations related to the fines, penalties, and measures to be imposed on Establishments that violate the regulations and bylaws applicable to the MC;

15. approve the appointment of auditors and their annual remuneration; and

16. exercise any other duties or powers assigned to him by the Ruler.

b. The Chairman may delegate any of his powers under paragraph (a) of this Article to the CEO, provided that such delegation is specific and in writing.

Appointment and Functions of the CEO

Article (9)

a. A CEO will be appointed to the MCC pursuant to a resolution of the Chairman.

b. The CEO will be directly responsible to the Chairman for exercising the duties and powers assigned to him under this Law, the resolutions issued in pursuance hereof, and other legislation in force in the Emirate; and for ensuring that the MCC achieves its objectives and performs its duties pursuant to this Law and the resolutions issued in pursuance hereof.

c. The CEO will have the duties and powers to:

1. propose the policies, and strategic and operational plans, of the MCC; submit the same to the Chairman for approval; and take all actions required for their implementation upon approval;

2. propose the services, work, projects, and activities to be performed by the MCC; and submit the same to the Chairman for approval;

3. propose the organisational structure of the MCC and submit the same to the Chairman for approval;

4. propose the fees and charges for the services provided by the MCC and the Free Zone, and submit the same to the Chairman for approval;

5. prepare the draft annual budget and financial statements of the MCC, and submit the same to the Chairman or approval;

6. propose the bylaws, regulations, and resolutions regulating business and activities within the MC; and submit the same to the Chairman for approval;

7. propose the resolutions and bylaws regulating the financial, administrative, and technical work of the MCC; and submit the same to the Chairman for approval;

8. approve the rules and procedures for the registration and licensing of Establishments, and submit the same to the Chairman for final approval;

9. propose the borrowing programmes required to obtain the finance that enables the MCC to achieve its objectives, and submit the same to the Chairman for approval;

10. propose the areas of investment and acts of disposition of the MCC property, and submit the same to the Chairman for approval;

11. issue the resolutions required for maintaining a register for the licensing of Establishments and any other registers that are relevant to the work of the MCC;

12. prepare periodic and annual reports on the performance, activities, and financial position of the MCC, and submit the same to the Chairman for approval;

13. supervise the work of the employees of the executive body of the MCC, and appoint qualified and competent employees;

14. open and manage bank accounts in accordance with the legislation in force in the Emirate;

15. represent the MCC before third parties, and conclude the contracts and agreements required for the achievement of the MCC objectives;

16. propose the resolutions, bylaws, and regulations related to the fines, penalties, and measures to be imposed on Establishments that violate the regulations and bylaws applicable to the MC; and submit the same to the Chairman for approval; and

17. exercise any other duties or powers required for the achievement of the objectives of the MCC, as assigned or delegated to him by the Chairman.

d. The CEO may delegate any of his powers under paragraph (c) of this Article to any of the employees of the MCC executive body, provided that this delegation is specific and in writing.

Substitution of Wording

Article (2)

The term “Board of Directors”, wherever mentioned in the Original Law, is hereby replaced by the word “Chairman”.

Repeals

Article (3)

The above-mentioned Decree No. (25) of 2020 is hereby repealed. Any provision in any other legislation will also be repealed to the extent that it contradicts the provisions of this Law.

Commencement and Publication

Article (4)

This Law comes into force on the day on which it is issued, and will be published in the Official Gazette.

Mohammed bin Rashid Al Maktoum

Ruler of Dubai

Issued in Dubai on 7 July 2021

Corresponding to 27 Thu al-Qidah 1442 A.H.

[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.