UAE Corporate / Commercial LawFederal Law No. (22) of 2000 On the Union of UAE Chambers of Commerce and Industry

Article (1) Definitions For the purposes of implementing the provisions of this Law, the following terms and expressions shall have the meanings assigned to each of them, unless the context requires otherwise: State : The United Arab Emirates. Ministry : The Ministry of Foreign Trade. Minister : The Minister of Foreign Trade. Competent Authority : The Competent Federal Authority.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 2 Chambers : The Chambers of Commerce and Industry established in each emirate of the State in accordance with its legislation. Federation of UAE Chambers : The Federation of UAE Chambers of Commerce and Industry in the State. Board of Directors : The Board of Directors of the Federation of UAE Chambers. President : The President of the Board of Directors of the Federation of UAE Chambers. Executive Office : The Executive Office of the Board of Directors. General Secretariat : The General Secretariat of the Federation of UAE Chambers. Section One Establishment of the Federation of UAE Chambers of Commerce and Industry, its Objectives, and Competences Chapter One Establishment of the Federation of UAE Chambers of Commerce and Industry

Article (5) The Federation of UAE Chambers of Commerce and Industry aims to achieve the following objectives: 1. Coordinating the activities of the Chambers and unifying their efforts to ensure the achievement of the purposes for which they were established. 2. Working to overcome the obstacles and solve the problems faced by the Chambers in carrying out their activities in order to achieve the objectives and purposes thereof. 3. Supporting cooperation and coordination with federal and local authorities, as well as regional and international organizations and bodies whose activities are related to economic affairs, in order to achieve public interest. 4. Attending to commercial, industrial, and other branches of economic activities related thereto, and contributing to their development. 5. Achieving harmony and cooperation between traders, manufacturers, and professional associations in various economic sectors upon referral from the Chambers. 6. Supporting cooperation between traders, manufacturers, and the government to reconcile the interests of traders with those of producers and consumers, in order to achieve public benefit.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 4 Chapter Three Competences of the Federation of UAE Chambers of Commerce and Industry

Article (6) The Federation of UAE Chambers of Commerce and Industry shall exercise all the competences necessary to achieve the objectives thereof, and in particular, it shall have the following: 1. Organize conferences and workshops, locally, regionally, and internationally, with an economic and commercial nature, or participate therein, and follow up on the implementation of the recommendations issued thereby. 2. Cooperate with the relevant authorities and Chambers in promoting and developing national trade and industry, as well as increasing their investments and exports. 3. Collect and coordinate economic data, information, and statistics in cooperation with the competent authorities. 4. Provide authorities with data, statistics, research, and studies related to economic development in the State, upon request. 5. Provide opinions on draft laws and regulations related to economic affairs referred thereto by the competent government authorities. 6. Study problems and difficulties related to commercial and industrial affairs and present the results of these studies to the competent government institutions. 7. Participate in local, regional, and international committees formed to study issues related to commercial and industrial affairs, both within and outside the State. 8. Represent the Chambers within the State and participate in economic discussions conducted by federal authorities with other countries, international organizations, and bodies. The Federation may, upon the request of local authorities, participate in their economic discussions. 9. Represent the Chambers in local, regional, and international conferences, bodies, organizations, and exhibitions of an economic nature. 10. Conclude cooperation agreements with Chambers, Unions, and economic organizations outside the State.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 5 11. Issue periodic journals and publications that include research, studies, and statistics of an economic nature. 12. Issue consolidated commercial and industrial directories at the national level and establish information platforms on the internet, or grant permission to individuals for their issuance after an agreement with the concerned chambers. 13. Organize exhibitions and markets within and outside the State, in accordance with applicable laws and regulations, and after coordinating with the competent authorities. 14. Settle commercial and industrial disputes through arbitration if the parties involved agree to refer the dispute thereto, and if the dispute involves persons belonging to more than one Chamber or between any of those persons and a foreigner or foreign entity, in accordance with the provisions of Federal Law No. (11) of 1992 Regarding Civil Procedures. 15. Invite experts and specialists from governmental departments or others to seek their opinions on matters falling within the competences of the Federation of UAE Chambers of Commerce and Industry. 16. Form committees affiliated with the Federation of UAE Chambers of Commerce and Industry that work to achieve the objectives thereof, with the executive regulations specifying the types, competences, and working rules of these committees. Section Two The Bodies of the Federation of UAE Chambers of Commerce and Industry and Their Competences

Article (17) 1. In its first session, the Board of Directors shall elect a President from among the presidents of the Chambers' Boards of Directors or their representatives and shall also elect a Vice President from among its members, for a term of three (3) years. The election shall be conducted by secret ballot. 2. The Vice President shall act in place of the president in absence thereof, and in their absence, the Board of Directors shall elect one of its members to carry out the President’s duties. In case of a vacancy in the position of President or Vice President, the Board of Directors shall elect, in its first subsequent session, a replacement to complete the term referred to in Clause (1) of this Article.

Article (20) 1. The sessions of the Board of Directors shall be valid with the attendance of the majority of its members. Decisions shall be issued by an absolute majority of the votes of the members present, and in the event of a tie, the side in wich the Chair of the meeting has voted shall prevail. 2. In urgent cases, matters may be presented to the Board of Directors by circulation, and decisions in such cases shall only be issued unanimously. 3. The Board of Directors may invite experts it deems appropriate to attend its meetings in order to benefit from their views on matters presented to the Board of Directors, without them having a counted vote in the decisions or recommendations made by the Board of Directors.

Article (21) The Board of Directors shall establish the necessary regulations to implement the provisions of this law, which specifically address the following: 1. The rules governing the convening of meetings of the Board of Directors. 2. The rules for election and voting. 3. The rules related to the formation of permanent and temporary committees. 4. The rules related to arbitration in disputes specified in Article (6) of this law. 5. The rules related to the management of the funds of the Federation of UAE Chambers of Commerce and Industry. 6. The powers and responsibilities of the employees of the Federation of UAE Chambers of Commerce and Industry, as well as the rules for their appointment, termination of services, and salaries. 7. The rules related to organizing the records of the Federation of UAE Chambers of Commerce and Industry.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 9 8. The authorities related to the transfer of allocations from the Federation of UAE Chambers of Commerce and Industry budget or exceeding the approved allocations within the total approved budget. 9. The rules related to determining and collecting the contributions of the Chambers in the Federation of UAE Chambers of Commerce and Industry budget. 10. The rules for depositing the funds of the Federation of UAE Chambers of Commerce and Industry in banks and the entity’s authorized to withdraw therefrom.

Article (22) The Board of Directors is the supreme authority supervising the affairs of the Federation of UAE Chambers and it shall manage its affairs within the limits of the general policy and objectives on which it is based in accordance with the provisions of this law. For this purpose, it shall exercise the following competences: 1. Approving the general policy of the Federation of UAE Chambers, its strategic, developmental, operational, and financial plans, together with the necessary programs and projects, and supervising their implementation; 2. Approving the annual budget and the final account of the Federation of UAE Chambers; 3. Determining the value of the annual contribution of the Chambers to the budget of the Federation of UAE Chambers, provided that the Board of Directors shall propose a three (3) year strategic plan approved thereby, including the required budget, and based on the approval of the Chambers, the annual contribution percentage for each Chamber shall be determined; 4. Proposing the fees for services provided by the Federation of UAE Chambers in coordination with the Competent Authority and submitting them to the Ministry of Finance to be presented to the Cabinet for approval. 5. Approving the financial and administrative regulations of the General Secretariat. 6. Approving the organizational structure of the General Secretariat. 7. Issuing the organizational regulations and resolutions necessary for the implementation of the provisions of this Law, and for organizing the work within the Federation of UAE Chambers.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 10 8. Reviewing periodic reports on the workflow, achievements, and performance of the Federation of UAE Chambers and issuing the necessary recommendations and resolutions. 9. Proposing accession to international treaties and agreements, and proposing partnership agreements with regional and international organizations related to the activities and competences of the Federation of UAE Chambers, after coordination with the Competent Authority and other concerned entities. 10. Approving the opening of bank accounts for the Federation of UAE Chambers inside and outside the State, and managing and closing them. 11. Issuing the executive regulations that specify the types, competences, and working rules of the committees affiliated with the Federation of UAE Chambers, as referred to in Clause (16) of Article (6) of this Law. 12. Matters referred to it by the Cabinet, the Chambers, or the Competent Authorities. 13. Any other competences assigned to it by the Cabinet.

Article (22) BIS The President of the Board of Directors shall have the following competences: 1. Proposing the general policy of the Federation of UAE Chambers, its strategic, developmental, and operational plans, and the necessary programs and projects, and having them approved by the Board of Directors. 2. Following up on the implementation of the competences and duties of the Federation of UAE Chambers. 3. Proposing and preparing the draft annual budget and the final account of the Federation of UAE Chambers and submitting them to the Board of Directors for approval, and following up on the implementation of the budget within its approved appropriations. 4. Proposing the necessary plans for managing the Federation of UAE Chambers and investing its funds, and having them approved by the Board of Directors. 5. Proposing the financial and administrative regulations for the General Secretariat, including the human resources regulations, and having them approved by the Board of Directors.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 11 6. Proposing the organizational structure of the General Secretariat and having it approved by the Board of Directors. 7. Issuing the necessary decisions and systems for the proper functioning of the General Secretariat. 8. Submitting periodic reports on the workflow, achievements, and performance and presenting them to the Board of Directors. 9. Opening bank accounts in the name of the Federation of UAE Chambers, as well as managing and operating those accounts according to the mechanism approved by the Board of Directors. 10. Forming internal committees and working groups from among the employees of the General Secretariat or from outside, and determining their duties and the procedures for their workflow. 11. Calling for the meetings of the Board of Directors, approving the agenda of the meetings, endorsing their minutes, and signing the decisions approved or ratified by the Board of Directors. 12. Appointing the employees and staff of the General Secretariat. 13. Any other competences or duties assigned thereto by the Board of Directors. The President of the Board may delegate some of their competences to any member of the Board of Directors they deem appropriate, after the approval of the Board of Directors, provided that the delegation is written and specific. Chapter Three: The Executive Office

Article (23) The Board of Directors shall form an Executive Office consisting of the President of the Board of Directors, Vice President, and (3) three members selected from among its members, with the Secretary-General of the Federation of UAE Chambers of Commerce and Industry serving as its rapporteur. The Executive Office shall be competent to consider urgent matters concerning the Federation of UAE Chambers of Commerce and Industry and take the necessary decisions, which shall be presented for ratification at the first Board meeting.

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 12 The Board may delegate some of the competencies thereof to the Executive Office. Chapter Four The General Secretariat

Article (24) 1. The Federation of UAE Chambers shall have a General Secretariat consisting of a Secretary-General, an Assistant Secretary-General, and a sufficient number of employees and staff. The Secretary-General and the Assistant Secretary-General shall be appointed by a decision of the Board of Directors. 2. The Secretary-General shall be appointed for a term of (4) four years, renewable once, by a decision of the Board of Directors. 3. The employees and staff of the General Secretariat shall be appointed by a decision of the President of the Board of Directors based on the nomination of the Secretary-General. 4. The General Secretariat shall be competent to implement all decisions of the Board of Directors and to manage the administrative and financial affairs of the Federation of UAE Chambers. The internal regulations shall specify the duties and competences of the Secretary-General and the Assistant Secretary-General. Section Three Financial Affairs of the Federation of UAE Chambers of Commerce and Industry

Article (25) The Federation of UAE Chambers of Commerce and Industry shall have an annual budget, with its fiscal year starting on the first (1) of January each year and ending on the thirty-first of December of the same year. The first fiscal year shall begin from the date this law enters into force and shall end on the thirty-first of December of the following year. The General Secretariat shall be responsible for preparing the draft budget and submitting it to the Board of Directors at least (3) three months before the beginning of the new fiscal year. It shall also be responsible for preparing the draft final accounts of the Federation within (90)

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Federal Law of 2000 Regarding the Federation of Chambers of Commerce and Industry 13 ninety days following the end of the fiscal year and submitting them to the Board, accompanied by the auditor’s report.

Article (27) The financial resources of the Federation of UAE Chambers shall consist of the following: 1. The annual financial appropriations allocated to the Federation of UAE Chambers from the general budget of the Federation; 2. The annual contributions of the Chambers, in accordance with Clause (3) of Article (22) of this Law; 3. Revenues received by the Federation of UAE Chambers from exercising its competences; and 4. Grants, donations, and bequests that are consistent with the objectives of the Federation of UAE Chambers and approved by the Board of Directors. 5. Any other resources approved by a resolution of the Cabinet based on a proposal of the Board of Directors and after coordination with the Competent Authority.