Decree Blog
69 royal decrees were issued in the year 2024 that had a transformational impact on the economy and the Omani legal system at large, from the promulgation of a new Advocacy and Legal Consultancy Law and a new System for Signing Government Contracts, to the creation of a new Financial Services Authority and the appointment of a new Chairman for the Tax Authority. This blog post reviews the most significant royal decrees that came out this year.
As we wrap up the month of December, we thought it would be fun to ask members of the Decree team to tell us about the legal developments that they personally found to be most interesting in the year 2024. To allow for some diversity in the answers, nobody was allowed to mention the new Advocacy and Legal Consultancy Law in their answers, since this was the biggest legislative development for the legal profession in Oman in a very long time.
Under the Commercial Companies Law, the liquidation of a company can be triggered by a number of cases stipulated in article 40 of the law. This blog post will highlight the steps required under the Commercial Companies Law to commence and complete the liquidation of a company.
Liquidation is a process by which a company ends its life and distributes its assets to those it owes money to in an orderly manner. Legal procedures must be taken when a company goes into liquidation, starting with the reason for liquidation. In this blog, we will explore the grounds for liquidating a company as stipulated under article 40 of the Commercial Companies Law.
SAOGs play an important role in the Omani economy, so it is not surprising that the Financial Services Authority (FSA) has issued unique regulations that apply to the operations of such companies, including specific rules on the duties of the board of directors, the internal auditor, and the legal advisor of the company. This blog post will highlight some of the duties of a legal advisor of an SAOG as prescribed by the Public Joint Stock Companies Regulation.
The Tender Law is extremely important to any company wishing to sell its goods and services to the government as this law sets the forms of procurement that government entities are required to follow when purchasing any goods or services. Governments around the world have similar laws to ensure fairness and transparency in government purchasing by publicly requesting bids, and to ensure that the government obtains goods and services at the most optimum price through a formal evaluation process. This blog post will explore the five methods of procurement available to government entities under the Tender Law.
Royal Decree 6/2021 promulgated the Basic Statute of the State i.e. the constitution of Oman. This most recent version of the constitution was promulgated one year after Sultan Haitham’s ascension to the throne and created a legal framework that reaffirms the provisions in the previous constitution, in addition to establishing some key reforms. This blog will highlight five of the most important fundamental rights guaranteed by the constitution.
The Omani Constitution, formally known as the Basic Statute of the State, sets the key provisions governing the Omani legal system, including the rules and duties of the Sultan, ministers, councils and many more, including the judicial authority.
Today marks the fourth anniversary of the ascension of Sultan Haitham to the throne, and also marks the third anniversary of the promulgation of the Basic Statute of the State, i.e. the constitution of Oman. The very first Omani constitution was promulgated by the late Sultan Qaboos in 1996, which was amended only once in 2011. Sultan Haitham issued a new constitution exactly one year after his ascension to the throne, which largely retained the structure and content of the previous constitution, but with some key changes. As today marks the third anniversary of this constitution, this post will highlight three of its most important new provisions.
Last year was a big year for Omani legislation with the promulgation of several key laws such as the Labour Law, the Social Protection Law, and the Maritime Law. We expect the year 2024 to have major legislative developments that are similar, if not greater, than those that came out in 2023. This post will highlight some of our predictions for this year.