We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State issued by Royal Decree 101/96,
and Royal Decree 53/96 Amending the Law Regulating the Accounting and Auditing Profession issued by Royal Decree 77/86,
and in pursuance of public interest,
have decreed as follows
Article I
Licences granted to foreign accounting and auditing offices, branches of foreign offices, or companies working in this field issued before the effective date of the mentioned Royal Decree 53/96 hereby continue to be valid for an additional period of two years. It is not permitted for such licences to be renewed after the expiry of this period except in accordance with the provisions of the Law Regulating the Accounting and Auditing Profession.
Article II
The owners of the currently licensed Omani offices shall fulfil the full-time requirement stipulated in the mentioned law within a period of two years starting from the date of entry into force of this decree.
Article III
This decree must be published in the Official Gazette, and comes into force from 11 June 2001.
Issued on: 4 Rabi Al-Akhir 1422
Corresponding to: 26 June 2001
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 698 issued on 1 July 2001.