With the impending deadline of 30 June 2016 approaching, the press has reported on 18 June 2016 that the Council of Ministers has approved an extension of the deadline for companies for adjusting existing legal positions including amending the articles of associations to bring them in line with the 2015 UAE Commercial Companies Law (CCL).
The Council of Ministers has exercised the power of granting an extension, an option originally contemplated in the text of the CCL.
This extension is welcomed especially in light of the recent ministerial resolution clarifying the ambiguous provision of Article 104 applicable to limited liability companies and the new corporate governance resolution applicable to public joint stock companies.
A copy of the actual Council of Ministers resolution is not yet available and publication in the Federal Official Gazette is awaited.
More details on this development available on Emirates News Agency- Extension of CCL deadline.