On 29 July 2024, the new UK Listing Rules came into force. The new rules institute a simpler, more flexible, disclosure-based listing regime and are designed to place London on a competitive footing with other major...more
The United Arab Emirates (UAE), which has made significant updates to its laws governing commercial activity in recent years, has again revised and refined the statutory landscape for companies in the country. The issuance of...more
In January 2022, the Securities and Commodities Authority of the United Arab Emirates ("SCA") passed decision No. (1/TM) of 2022 on the Regulations on Special Purpose Acquisition Companies ("SPACs") ("Decision"). The Decision...more
Background - Federal Law No. 32 of 2021 on Commercial Companies (the New Companies Law) has repealed and replaced Federal Law No. 2 of 2015 on Commercial Companies (the Repealed Companies Law). The New Companies Law,...more
The general doctrine of ‘illegality’, in commercial litigation, is based on two related principles: • Firstly, that no person should benefit from his or her own illegal act or wrong; and • Secondly, that the law (and the...more
On 23 November 2020, the UAE government announced that His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE had issued a decree (the “Decree”), amending existing foreign ownership rules for onshore UAE...more
As part of a series of legislative change aimed to improve corporate transparency, the UAE Cabinet issued Cabinet Resolution no (58) of 2020 concerning regulation of the real beneficiary procedures (“UBO Regulations”). The...more
Minimum Monthly Wage for 2020 - New Legislation Enacted - On November 21, 2019, the official gazette published Decree-Law No. 167/2019, which increased the minimum monthly wage to € 635,00, effective January 1, 2020. ...more
The Mexican Federal Official Gazette, on June 14, 2018, published a decree amending some provisions of the Mexican General Law of Commercial Companies. This decree imposes new obligations on companies in Mexico with respect...more
Country Background - Formed on 2 December 1971, the UAE is a federal state of seven emirates comprising Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. The UAE federal constitution...more
Ministerial Resolution No. (272) of 2016 sets out which provisions applicable to joint stock companies also apply to limited liability companies. Introduction - Since UAE Federal Law No. (2) of 2015 concerning...more
The UAE’s new commercial companies law, Federal Law No. 2 of 2015 (the “New CCL”), took effect last year on 1 July 2015. The New CCL provides that any company that is not compliant with the law must amend its memorandum and...more
The UAE has recently passed a new commercial companies law and approved some key changes to its public takeover regime. 1. New UAE Commercial Companies Law UAE Federal Law No. (2) of 2015 Concerning Commercial...more
The UAE continues to develop a more sophisticated corporate regulatory regime which has significant implications for government-owned companies, limited liability companies and joint stock companies. All companies are...more