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Law No. (17) of 2023 On Amending Ras Al Khaimah Free Trade Zone Law of 2000

Law
Law No. (17) of 2023 On Amending Ras Al Khaimah Free Trade Zone Law of 2000 We, Saud Bin Saqr Bin Mohamed Al Qasimi Ruler of Ras Al Khaimah After perusal of Ras Al Khaimah Free Trade Zone Law of 2000, as amended; And Law No. (2) of 2017 on Establishing Ras Al Khaimah Economic Zone and the Supervisory Authority; And Resolution No. (4) of 2006; And Law No. (4) of 2012 on Government lawsuits; And Emiri Decree No. (23) of 2014; have promulgated the following law: Article (1) In application of this Law, the following words shall have the meanings assigned thereto: State: United Arab Emirates Authority: RAK Free Trade Zone Authority Committee: The committee entrusted with the management of the Authority Chairman: Chairman of the Committee Attorney: Any individual or individuals appointed in writing by the Chairman to exercise, jointly or severally, any of and all powers stipulated in Articles (4) and (5) of this Law and any other powers determined in writing by the Chairman. Article (2) a- Article (5) of Ras Al Khaimah Free Trade Zone Law of 2000 shall be amended to be read as follows: The Authority shall manage the affairs of RAK Free Trade Zone which should have and maintain an independent legal personality and financial and administrative independence only for the following purposes and to the extent necessary for: 1- Management and disposal of its assets, rights and obligations toward third parties by way of title transferring, sale, purchasing, settlement or any other form of disposal, whether with or without consideration; 2- Initiate, defend, resolve, settle, and participate in any legal proceedings related to the Authority or its interests, including any lawsuit or arbitration proceedings inside or outside the State; and 3- Appoint legal representatives to represent and act on behalf of the Authority in any legal proceedings, including any lawsuit or arbitration proceedings inside or outside the State. b- The remainder of Ras Al Khaimah Free Trade Zone Law of 2000 shall be repealed and replaced by this Law. Article (3) a- The Authority shall be managed by a Committee comprised of a Chairman and number of members to be appointed by resolution from the Ruler. b- The Committee term is three years, provided that such term shall be renewed automatically and the Committee shall continue to exercise its powers until the appointment of a new Committee. c- The Committee shall convene at least four times per year and whenever necessary upon request from the Chairman. d- Meeting of the Committee shall be valid if attended by 50% of the Committee’s members, including the Chairman. In all cases, meeting of the Committee shall not be valid unless attended by the Chairman or his authorised representative. e- The Committee shall take its decisions by a majority of votes of its members present in the meeting. In case of a tie, the Chairman shall have casting vote. f- The Chairman shall have the right to delegate any of the Committee’s members or the Attorneys to attend and vote in the Committee’s meetings. g- Members of the Committee shall have the right to delegate other members to attend and vote in the Committee’s meetings. Article (4) a- The Committee shall have the power to issue the necessary decisions, directives and instructions to implement this Law and ensure the proper functioning of the Authority within the limits of Authority’s objects set out above, including the following powers: 1- Manage, conduct and supervise any rights, interests, movable or immovable assets that are still owned or assigned to the Authority and transfer, sell, acquire or otherwise dispose of the said rights, interests and assets. 2- Follow up all proceedings, lawsuits (civil or criminal), ongoing cases to which the Authority is a party until final judgments or arbitral awards are issued therein, complete all execution procedures related to any of such claims, lawsuits or proceedings and collect any amounts adjudged in favor of the Authority. 3- Collect, refund, and receive all amounts of money which are at that time or become later due to the Authority, claim, sue, enforce payment, receive and give valid receipts and quittances for all monies, securities, debts, goods, non-real property that are at that time or become later due, payable or transferable to the Authority in respect of or under a right, title or any methods or means whatsoever from any person, corporation or entity. 4- Appoint an auditor for the Authority. 5- Prepare and maintain an annual report on business and activities of the Authority. b- Without prejudice to what stated in this Article (4) and Article (5) below, the Chairman shall be the legal representative of the Authority in its relations with third parties, and the Chairman may delegate such powers to an Attorney. Article (5) As an exception to Law No. 4 of 2012 on Government lawsuits and from the date on which the Chairman appoints the Attorneys, the Chairman or Attorney shall represent the Authority in its relations with third parties and before any judicial and quasi-judicial authorities, committees and tribunals or any other dispute resolution authorities (including arbitration, mediation or reconciliation tribunals) and shall be responsible for defending its rights and interests. For this purpose, the Chairman or Attorney shall have the widest possible authorities and powers including refer to arbitration, appoint arbitrators and experts, collect sums adjudged, reach any settlement, abandon litigation or any other form of proceedings (including arbitration), waive a judgment or arbitration award wholly or in part or by any means of objection, lift attachment or abandon deposits, accept or recuse a judge, arbitrator or expert, manage and dispose of Authority’s assets, rights and obligations toward third parties (by way of transfer, sale, purchase, settlement or any other form of disposals, with or without consideration), and undertake any and all other acts for which the law requires special authorisation. The Chairman or Attorney shall also have the power to ratify and approve the appointment of any existing representatives, lawyers or legal consultants who were appointed prior to the date in which this law came into force, amend or maintain terms of appointment and/or powers and authorities of such lawyers or legal consultants, as appropriate. Article (6) The Chairman, any of the Attorneys or members of the Committee shall not be liable toward third parties for any act or omission conducted thereby during or in connection with exercising their duties stipulated under this Law, unless such act or omission was made in bad faith, in violation to applicable laws and regulations or as a result of their gross negligence. The Authority shall solely bear any civil liability toward third parties for such act or omission according to provisions of this Law. Article (7) a- The Committee shall, as soon as practicable from the date on which the disposal of the Authority’s assets and rights is completed, issue a decision thereof and publish such decision in two local newspapers, one issued in Arabic and the other in English. b- After the lapse of one year from publication by the Committee of its decision that the disposal of the Authority’s assets and rights had been completed: 1- No lawsuit filed against the Authority, the Committee (including Chairman, members of the Committee and Attorneys) or any of its employees may be considered; and 2- The Authority shall be cancelled and its legal personality shall cease to exist. Article (8) Each of Resolution No. (4) of 2006 and Emiri Decree No. (23) of 2014 shall be repealed as well as any other law, decree or resolution and any provisions thereof to the extent to which they contradict with provisions of this law. Article (9) This Law shall come into force as date of 1st January 2024 and shall be published in the Official Gazette. Saud Bin Saqr Bin Mohamed Al Qasimi Ruler of Ras Al Khaimah Promogulated on this day sixteenth of Jumada II 1445 H. Corresponding to twenty ninth of December 2023 G.
  • In application of this Law, the following words shall have the meanings assigned thereto:
    State: United Arab Emirates 
    Authority: RAK Free Trade Zone Authority
    Committee: The committee entrusted with the management of the Authority
    Chairman:    Chairman of the Committee
    Attorney: Any individual or individuals appointed in writing by the Chairman to exercise, jointly or severally, any of and all powers stipulated in Articles (4) and (5) of this Law and any other powers determined in writing by the Chairman.
     

  •  a- Article (5) of Ras Al Khaimah Free Trade Zone Law of 2000 shall be amended to be read as follows:
    The Authority shall manage the affairs of RAK Free Trade Zone which should have and maintain an independent legal personality and financial and administrative independence only for the following purposes and to the extent necessary for:
    1- Management and disposal of its assets, rights and obligations toward third parties by way of title transferring, sale, purchasing, settlement or any other form of disposal, whether with or without consideration;
    2- Initiate, defend, resolve, settle, and participate in any legal proceedings related to the Authority or its interests, including any lawsuit or arbitration proceedings inside or outside the State; and
    3- Appoint legal representatives to represent and act on behalf of the Authority in any legal proceedings, including any lawsuit or arbitration proceedings inside or outside the State.
    b- The remainder of Ras Al Khaimah Free Trade Zone Law of 2000 shall be repealed and replaced by this Law.
     

  •  a- The Authority shall be managed by a Committee comprised of a Chairman and number of members to be appointed by resolution from the Ruler.
    b- The Committee term is three years, provided that such term shall be renewed automatically and the Committee shall continue to exercise its powers until the appointment of a new Committee.
    c- The Committee shall convene at least four times per year and whenever necessary upon request from the Chairman.
    d- Meeting of the Committee shall be valid if attended by 50% of the Committee’s members, including the Chairman. In all cases, meeting of the Committee shall not be valid unless attended by the Chairman or his authorised representative.
    e- The Committee shall take its decisions by a majority of votes of its members present in the meeting.  In case of a tie, the Chairman shall have casting vote. 
    f- The Chairman shall have the right to delegate any of the Committee’s members or the Attorneys to attend and vote in the Committee’s meetings.
    g- Members of the Committee shall have the right to delegate other members to attend and vote in the Committee’s meetings.
     
  • a- The Committee shall have the power to issue the necessary decisions, directives and instructions to implement this Law and ensure the proper functioning of the Authority within the limits of Authority’s objects set out above, including the following powers:
    1- Manage, conduct and supervise any rights, interests, movable or immovable assets that are still owned or assigned to the Authority and transfer, sell, acquire or otherwise dispose of the said rights, interests and assets.
    2- Follow up all proceedings, lawsuits (civil or criminal), ongoing cases to which the Authority is a party until final judgments or arbitral awards are issued therein, complete all execution procedures related to any of such claims, lawsuits or proceedings and collect any amounts adjudged in favor of the Authority.
    3- Collect, refund, and receive all amounts of money which are at that time or become later due to the Authority, claim, sue, enforce payment, receive and give valid receipts and quittances for all monies, securities, debts, goods, non-real property that are at that time or become later due, payable or transferable to the Authority in respect of or under a right, title or any methods or means whatsoever from any person, corporation or entity.
    4- Appoint an auditor for the Authority.
    5- Prepare and maintain an annual report on business and activities of the Authority.
    b- Without prejudice to what stated in this Article (4) and Article (5) below, the Chairman shall be the legal representative of the Authority in its relations with third parties, and the Chairman may delegate such powers to an Attorney.
     
  • As an exception to Law No. 4 of 2012 on Government lawsuits and from the date on which the Chairman appoints the Attorneys, the Chairman or Attorney shall represent the Authority in its relations with third parties and before any judicial and quasi-judicial authorities, committees and tribunals or any other dispute resolution authorities (including arbitration, mediation or reconciliation tribunals) and shall be responsible for defending its rights and interests. For this purpose, the Chairman or Attorney shall have the widest possible authorities and powers including refer to arbitration, appoint  arbitrators and experts, collect sums adjudged, reach any settlement, abandon litigation or any other form of proceedings (including arbitration), waive a judgment or arbitration award wholly or in part or by any means of objection, lift attachment or abandon deposits, accept or recuse a judge, arbitrator or expert, manage and dispose of Authority’s assets, rights and obligations toward third parties (by way of transfer, sale, purchase, settlement or any other form of disposals, with or without consideration), and undertake any and all other acts for which the law requires special authorisation. The Chairman or Attorney shall also have the power to ratify and approve the appointment of any existing representatives, lawyers or legal consultants who were appointed prior to the date in which this law came into force, amend or maintain terms of appointment and/or powers and authorities of such lawyers or legal consultants, as appropriate.
     

  •  The Chairman, any of the Attorneys or members of the Committee shall not be liable toward third parties for any act or omission conducted thereby during or in connection with exercising their duties stipulated under this Law, unless such act or omission was made in bad faith, in violation to applicable laws and regulations or as a result of their gross negligence.  The Authority shall solely bear any civil liability toward third parties for such act or omission according to provisions of this Law.
     
  • a- The Committee shall, as soon as practicable from the date on which the disposal of the Authority’s assets and rights is completed, issue a decision thereof and publish such decision in two local newspapers, one issued in Arabic and the other in English.
    b- After the lapse of one year from publication by the Committee of its decision that the disposal of the Authority’s assets and rights had been completed: 
    1- No lawsuit filed against the Authority, the Committee (including Chairman, members of the Committee and Attorneys) or any of its employees may be considered; and 
    2- The Authority shall be cancelled and its legal personality shall cease to exist.

     
  • Each of Resolution No. (4) of 2006 and Emiri Decree No. (23) of 2014 shall be repealed as well as any other law, decree or resolution and any provisions thereof to the extent to which they contradict with provisions of this law.
     
  • This Law shall come into force as date of 1st January 2024 and shall be published in the Official Gazette. 

Classification
  • Civil Legislation
  • Free Zone
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