Royal Decree 16/77 Granting the Minister of Commerce and Industry the Right to Appoint and Dismiss Members of the Board of Directors Who Represent the Stake of the Sultanate in Joint Stock Companies Whose Main Purpose Is Within the Mandates of His Ministry as an Exception to the Provision of Article 132 of the Commercial Companies Law 4/1974 (Repealed)

Arabic

We, Qaboos bin Said, the Sultan of Oman

after perusal of the Law Governing the Administrative Apparatus of the State of 1975 and its amendments,

the Commercial Companies Law 4/74,

and based on the matters presented to Us by the Minister of Commerce and Industry after its review by the Diwan of Legislation,

have decreed as follows

Article 1

In exception to the provisions of article 132 of the Commercial Companies Law 4/74, the Minister of Commerce and Industry is hereby granted the right to appoint and dismiss the members of the board of directors representing the stake of the Sultanate in joint-stock companies whose primary purpose falls within the mandates of his ministry.

Article 2

This decree must be published in the Official Gazette, and comes into force on the date of its publication.

Issued on: 20 Rabi Al-Awwal 1397
Corresponding to: 10 March 1977

Qaboos bin Said
Sultan of Oman

Published in Official Gazette 122 issued on 2 April 1977.