Dubai Law·16 of 2011
Law ID
dubai-decree-2011-16
Plain-language summary
Transfers shares in Dubai Ice Plant and Cold Stores LLC formerly owned by the Late Sheikh Rashid bin Saeed Al Maktoum, effective from the decree's entry into fo…
Synced from the official UAE Legislation portal · Plain-language summary by the LEXAI editorial team
Article-level text
2 articles
1
Article (1) Effective as of the date on which this Decree comes into force, the shares which were owned by the Late Sheikh Rashid bin Saeed Al Maktoum in Dubai Ice Plant and Cold Stores LLC (the “Company”), representing twenty eight percent (28%) of its capital, will be transferred to the Investment Corporation of Dubai (the “ICD”), and the ICD will be subrogated to the rights and obligations of the Late Sheikh Rashid bin Saeed Al Maktoum with respect to the Company.
2
Article (2) This Decree comes into force on 20 May 2006, and will be published in the Official Gazette. Mohammed bin Rashid Al Maktoum Ruler of Dubai Issued in Dubai on 7 June 2011 Corresponding to 5 Rajab 1432 A.H. ©2015 The Supreme Legislation Committee in the Emirate of Dubai 1Every 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.
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Note: This legislation is sourced from the Dubai Legislation Portal (dlp.dubai.gov.ae). The original Arabic text is the authoritative version.
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