Categories
Article

Key Provisions of Bilateral Investment Treaties

A bilateral investment treaty (BIT) is an agreement between two states designed to encourage and protect investments made by nationals or companies from one country in the other. They provide legal assurances to investors, fostering a stable environment for cross-border investments. Many countries around the world have domestic laws that provide protection to foreign investors, for example, Oman has the Foreign Capital Investment Law, however, BITs make the duty to provide this protection a legal obligation under public international law and offer investors the ability to resort to international arbitration to enforce their rights under the BIT without the need to have a contract between the state and the investor that provides for arbitration.

Categories
Law Updates

MEM Issues Decision Establishing Oman Net Zero Centre

The Ministry of Energy and Minerals (MEM) published in this week’s issue of the Official Gazette a decision to establish Oman Net Zero Centre as a department in the MEM.

The Oman Net Zero Centre will not be an independent government entity, but a department in the MEM at the level of a directorate general. The decision details the mandates of Oman Net Zero Centre which include preparing and updating the national plan for transition to net zero, providing support and advice to relevant entities and institutions with the aim of achieving net zero targets, preparing the national plan to enhance energy consumption efficiency, approving and registration application for trading in carbon credits, among other functions.

You can read this MEM decision in full in English on the link below:

Categories
Law Updates

MOCIIP New Quality Mark Regulation

Yesterday, the Ministry of Commerce, Industry, and Investment Promotion published Ministerial Decision 718/2024 Issuing the Quality Mark Regulation that repeals the old Omani Quality Mark Regulation of 2011. The new regulation governs the controls for obtaining an Omani quality mark licence, sets the obligations of the licensee, and determines the quality monitoring and follow-up processes, fees, and administrative penalties.

A key change in the new regulation is that it no longer requires the application for the Omani quality mark to be an Omani entity. Furthermore, the scope to which the quality mark can be obtained has been expanded from applying only to goods to applying to services and processes as well. There is also a new provision in the regulation that gives the ministry the authority to make a requirement for certain establishments to obtain a quality mark as a pre-requisite for offering certain goods.

It is also worth noting that the new regulation also provides additional details regarding the required information for the application, and creates a two-step process for obtaining the licence involving a preliminary approval followed by a final approval that is issued after inspecting the quality management system of the applicant.

The new regulation also adopts technology by mandating that a QR code is included along with the quality mark logo and requiring that the ministry publishes the details of all products licensed through a dedicated government platform.

The new regulation enters into force next month. You can read it in full in English on the link below:

Categories
Law Updates

MAFWR Amends Management of Pastures and Livestock Regulation

The Ministry of Agriculture, Fisheries, and Water Resources published in this week’s issue of the Official Gazette an amendment to some provisions of the Executive Regulation of the Law on the Management of Pastures and Livestock giving the MAFWR the power to impose a new set of administrative penalties.

While the actual Law on the Management of Pastures and Livestock included criminal fines for those who violate the law, the original Executive Regulation of the Law on the Management of Pastures and Livestock of 2005 did not grant the ministry the power to issue smaller administrative fines to hold those who commit small offences accountable for their violations. The new amendment changes this by giving this power to the MAFWR by allowing it to impose administrative penalties, such as issuing a warning, ordering the removal of the violation, or cancelling the licence if a licensee violates any of the provisions of the regulation. The new amendment also gives the ministry the power to impose a fine not exceeding 2,000 Rial Omani for each violation with the opportunity to double this fine if the violation is repeated.

You can read this regulation in full in English on the link below:

Categories
Monthly Digest

Monthly Digest: November 2024

Decree Monthly Digest is a summary of the most significant updates on Decree in the previous month.

Categories
Intel Update

Intel Update: November 2024

Decree Intel is a database of original Omani legal research material that provides explanatory notesoverviews of government entities, and summaries of Supreme Court cases and MJLA Fatwas.

Categories
Law Updates

New System for Signing Omani Government Contracts

A royal decree was issued last week promulgating a new System of Signing Contracts and Financial Commitments of the State that repeals Royal Decree 48/76 regarding the Signing of Foreign and Domestic Financial Transactions and sets new formalities for signing government contracts.

Categories
Law Updates

New Omani Media Law Issued

His Majesty issued earlier this week a royal decree promulgating a new Media Law that overhauls the legal framework for the dissemination of media through all mediums including newspapers, radio and TV channels, cinemas, and physical artwork and medium, setting unified rules for all forms of media irrespective of the platform.

Categories
Law Updates

MOSD’s New Elderly Day Care Centres Regulation

The Ministry of Social Development published in this week’s issue of the Official Gazette a new Governance Regulation for Elderly Day Care Centres which provides the legal framework for establishing and operating a day care centre for the elderly.

According to the new regulation, a person wishing to establish a day care centre for the elderly must obtain a licence from the MOSD. Applicants for this licence can be natural persons, companies, or civil associations. Applicants are required to provide a bank guarantee of 3,000 Rial Omani when submitting their applications except for civil associations.

The regulation sets the obligations of the licensee to include preparing internal regulations of the day care centre and appointing a Omani person as the manager of the centre.

You can read this regulation in full in English on the link below:

Categories
Law Updates

New Data Sharing Requirements Under the National Records Law

His Majesty issued yesterday a new law called the National Records Law that requires all government entities, government-owned companies, and certain private companies to directly integrate with Royal Oman Police to store the data that ROP deems required to maintain a newly created national records database. If an entity is not able to directly integrate with ROP to electronically provide the data that ROP requests, the entity is required to provide the data to ROP using traditional means. In both cases, it is not permitted to require ROP to pay any fees for the cost of integration or transfer of the requested data.