We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State issued by Royal Decree 101/96,
the Commercial Companies Law 4/74 and its amendments,
the Financial Law issued by Royal Decree 56/82 and its amendments,
Royal Decree 65/91 Establishing Oman Chromite Company SAOG,
and in pursuance of public interest,
have decreed as follows
Article I
The text of the first paragraph of article 7 of the Annex to the Provisions Establishing Oman Chromite Company Attached to the Mentioned Royal Decree 65/91 is hereby replaced with the following text:
The board of directors must be composed of ten members as follows:
– Three members representing the share of the government and appointed in accordance with the provisions of the mentioned Commercial Companies Law and Financial Law, provided that the chairman of the board of directors is among them.
A decision must be issued by the Minister Supervising the Ministry of Finance to appoint a chairman of the board of directors from the members representing the share of the government.
Article II
The articles of association of the company must be amended in accordance with the provisions of this decree.
Article III
The mentioned Royal Decree 28/92 is hereby repealed, as well as all that is contrary to this decree or in conflict with its provisions.
Article IV
This decree must be published in the Official Gazette, and comes into force on 26 May 1998.
Issued on: 2 Rabi Al-Thani 1419
Corresponding to: 26 July 1998
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 628 issued on 1 August 1998.