We, Qaboos bin Said, the Sultan of Oman
after perusal of Royal Decree 26/75 Issuing the Law Governing the Administrative Apparatus of the State and its amendments,
the Commercial Companies Law 4/74 and its amendments,
and Royal Decree 79/87 Establishing the Oman Fisheries Company and its amendments,
and in pursuance of public interest,
have decreed as follows
Article I
In exception to the provisions of articles 122 and 124 of the mentioned Commercial Companies Law, the resolutions of the general meeting of the Oman Fisheries Company are hereby valid—if the quorum specified in those articles cannot be met—if the shareholders representing at least 30% of the capital of the company attend the meeting in person or by proxy, provided that the share of the government is represented. If this percentage is not met, a second meeting must be convened to discuss the same agenda, to be held within one month of the first meeting. Shareholders must be invited to this second meeting in the same manner as they were invited to the first meeting, at least one week prior to the date set for the second meeting.
The resolutions of the second meeting are valid if attended, in person or by proxy, by shareholders representing at least 20% of the capital of the company, provided that the share of the government is represented, if the general meeting is extraordinary. If the general meeting is ordinary, the resolutions are valid regardless of the number of shares represented, provided that the share of the government is among them.
Article II
This decree must be published in the Official Gazette, and comes into force from 1 March 1989.
Issued on: 4 Shawwal 1409
Corresponding to: 10 May 1989
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 407 issued on 15 May 1989.