1
Article 1
Article (1) a. As of the date on which this Decree comes into force, the following is hereby transferred from the DDA to the DMC: 1. all the duties and powers vested in the DFTC under the above-mentioned Executive Council Resolution No. (50) of 2014 and other legislation in force in the Emirate; 2. the ownership of the real property, movables, assets, devices, equipment, systems, and other property of the DFTC; 3. the DFTC Employees working in the DDA and whose transfer the DMC deems essential to enable it to achieve its objectives and perform the duties and functions assigned to it under the above-mentioned Law No. (5) of 2022, the resolutions issued in pursuance thereof, and other legislation in force in the Emirate of Dubai. These Employees must be placed on their respective grades, in accordance with the above-mentioned Law No. (8) of 2018 and the resolutions issued in pursuance thereof and in coordination with the Dubai Government Human Resources Department, and must retain their existing rights; and 4. the financial appropriations allocated to the DFTC in the annual budget of the DDA, and all revenues generated by the DFTC from issuing permits and providing services under applicable legislation. b. All rights and obligations of the DFTC are hereby transferred to the DMC. Provision of Financial Resources