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 47/98,
and the Articles of Association of Oman Cement SAOG,
and in pursuance of public interest,
have decreed as follows
Article I
The appointment of members representing the share of the government in the board of directors of Oman Cement SAOG must be in accordance with the provisions of the mentioned Commercial Companies Law and Financial Law.
A decision must be issued by the Minister Supervising the Ministry of Finance to appoint the chairman of the board of directors of the company from among the representatives for the share of the government in the board.
Article II
The mentioned Royal Decree 124/94 is hereby repealed, as well as that is contrary to or in conflict with the provisions of this decree.
Article III
This decree must be published in the Official Gazette, and comes into force on 27 April 1999.
Issued on: 24 Jumada Al-Akhirah 1420
Corresponding to: 4 October 1999
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 657 issued on 16 October 1999.