Resolution No. (3) of 2022

Concerning Representation of the

Government of Dubai in the Companies it Owns^[1]

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

After perusal of:

Law No. (5) of 1995 Establishing the Department of Finance; and

Decree No. (24) of 2007 Forming the Supreme Fiscal Committee in the Emirate of Dubai and its amendments,

Do hereby issue this Resolution.

Representation of the Government of Dubai

Article (1)

Notwithstanding the provisions of any other legislation, and based on the directives of the Supreme Fiscal Committee, the Department of Finance is hereby vested with the power to represent the Government of Dubai in respect of all matters related to its direct ownership, in whole or in part, of companies within and outside of the Emirate of Dubai. This includes concluding and amending memoranda of association, disposing of shares or stocks by all means of legal disposition, and listing these companies on local and foreign financial markets.

Commencement and Publication

Article (2)

This Resolution 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 29 January 2022

Corresponding to 26 Jumada al-Thaniyah 1443 A.H.

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©2022 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.