This is the fifth and final briefing in Latham & Watkins’ five-part Briefing Series on the Draft UAE Commercial Companies Law (the Draft CCL). The Draft CCL introduces some significant changes to Federal Law No. 8 of 1984 Concerning Commercial Companies (the Existing CCL), which will be repealed in its entirety when the Draft CCL comes into force. The purpose of this Briefing Series is to highlight some of the key changes to the Existing CCL contained in the Draft CCL.
The topics in our five-part briefing series are:
- Issue No. 1 — Key changes applicable to most forms of companies
- Issue No. 2 — Key changes for limited liability companies (LLCs)
- Issue No. 3 — Key changes for joint stock companies (JSCs)
- Issue No. 4 — Key changes relating to mergers
- This Issue No. 5 — Key changes relating to penalties
This issue deals with key changes to penalties. The Draft CCL modifies certain existing penalised activities and the associated penialties and introduces a number of new penalised activities. These changes are summarised in the tables below.
Click here to view table 1.
Click here to view table 2.