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Emiri Decree No. [6] of 2022 On Ras Al Khaimah Port

Emiri Decree
Emiri Decree No. [6] of 2022 On Ras Al Khaimah Port We, Saud Bin Saqr Bin Mohammad Al Qasimi, Ruler of Ras Al Khaimah. Having perused Law No.9 of 2008, on Ras Al Khaimah Ports, Emiri Decree No. [9] of 2004 on the Establishment of Ras Al Khaimah Port, and its relative amendments; and for the public Interest, resolved as follows: Article 1 The legal form of Ras Al Khaimah Port is hereby modified and changed into a limited liability company (“the Company”) effective from the issue date of the trade license and registration at the Ras Al Khaimah Department of Economic Development. Article 2 The Company shall be wholly and fully (100%) owned by RAK Ports Holding LLC. Article 3 All assets and movables owned by Ras Al Khaimah Port shall vest in the Company. The Company shall be the legal and factual successor of the Port with regard to all rights and liabilities. Article 4 All employees and workers of the Port shall remain unchanged with regard to their job descriptions, salaries, rights and privileges. Article 5 Memorandum and articles of association of the Company shall be drafted in conformity with the Federal Law No (2) of 2015 concerning Commercial Companies, as amended. Article 6 Modification of the legal form of the Port shall be published in one of the local daily newspapers issued in Arabic. Article 7 Debtors and right holders of the Port shall have the right to challenge the modification decision by submitting a written objection (including the reasons of objection) at the office of the Port within seven days from the date of publishing the same. Article 8 The objection shall be decided on either by settlement or rejection within 30 days from the date it is submitted to the Port management. Article 9 If the objection is not decided on within 30 days, the objecting party shall then have the right to resort to the competent court in the emirate of Ras Al Khaimah. Article 10 The modification process shall be suspended until any such objection(s) (if any) (which objection(s) shall be submitted during the legal period mentioned above in Article 7) is decided on either by the Port management or the competent court. Article 11 If the modification decision is not challenged within the period referred to in Article 7 above, the modification process shall be completed in accordance with the provisions hereof. Article 12 Any previous decrees or resolutions in contradiction herewith shall be deemed void and superseded. Article 13 This Decree shall take effect as of its issue date and shall be published in the official gazette. Saud Bin Saqr Bin Mohammad Al Qasimi Ruler of Ras Al Khaimah Issued on 15th Jumada II of 1443 H. Corresponding to 18th January of 2022AD.
  • The legal form of Ras Al Khaimah Port is hereby modified and changed into a limited liability company (“the Company”) effective from the issue date of the trade license and registration at the Ras Al Khaimah Department of Economic Development.   
     
  • The Company shall be wholly and fully (100%) owned by RAK Ports Holding LLC. 
     
  • All assets and movables owned by Ras Al Khaimah Port shall vest in the Company. The Company shall be the legal and factual successor of the Port with regard to all rights and liabilities.  
     
  • All employees and workers of the Port shall remain unchanged with regard to their job descriptions, salaries, rights and privileges. 
     
  • Memorandum and articles of association of the Company shall be drafted in conformity with the Federal Law No (2) of 2015 concerning Commercial Companies, as amended.
     
  • Modification of the legal form of the Port shall be published in one of the local daily newspapers issued in Arabic.
     
  • Debtors and right holders of the Port shall have the right to challenge the modification decision by submitting a written objection (including the reasons of objection) at the office of the Port within seven days from the date of publishing the same. 
     
  • The objection shall be decided on either by settlement or rejection within 30 days from the date it is submitted to the Port management.
     
  • If the objection is not decided on within 30 days, the objecting party shall then have the right to resort to the competent court in the emirate of Ras Al Khaimah.
     
  • The modification process shall be suspended until any such objection(s) (if any) (which objection(s) shall be submitted during the legal period mentioned above in Article 7) is decided on either by the Port management or the competent court.
     
  • If the modification decision is not challenged within the period referred to in Article 7 above, the modification process shall be completed in accordance with the provisions hereof.
     
  • Any previous decrees or resolutions in contradiction herewith shall be deemed void and superseded.
     
  • This Decree shall take effect as of its issue date and shall be published in the official gazette. 

Classification
  • Companies
  • Ports
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