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Royal Decree

Royal Decree 53/2019 Promulgating the Bankruptcy Law

2019/53 53/2019

Arabic

We, Qaboos bin Said, the Sultan of Oman

after perusal of the Basic Statute of the State promulgated by Royal Decree 101/96,

the Commercial Register Law 3/74,

the Insurance Companies Law promulgated by Royal Decree 12/79,

the Commercial Law promulgated by Royal Decree 55/90,

Royal Decree 2/98 Promulgating the Real Estate Register System,

the Judicial Authority Law promulgated by Royal Decree 90/99,

the Criminal Procedure Law promulgated by Royal Decree 97/99,

the Banking Law promulgated by Royal Decree 114/2000,

the Civil and Commercial Procedures Law promulgated by Royal Decree 29/2002,

the Labour Law promulgated by Royal Decree 35/2003,

the Law of Evidence in Civil and Commercial Transactions promulgated by Royal Decree 68/2008,

the Civil Transactions Law promulgated by Royal Decree 29/2013,

the Penal Law promulgated by Royal Decree 7/2018,

the National Payment Systems Law promulgated by Royal Decree 8/2018,

and the Commercial Companies Law promulgated by Royal Decree 18/2019,

and after presentation to Majlis Oman,

and in pursuance of public interest,

have decreed as follows

Article I

The attached provisions of the Bankruptcy Law shall apply.

Article II

The Minister of Commerce and Industry shall issue in coordination with the competent bodies the regulations and decisions necessary for implementing the provisions of the attached law.

Article III

Book Five of the Commercial Law is hereby repealed, as well as every provision contrary to or in conflict with the provisions of the attached law.

Article IV

This decree shall be published in the Official Gazette, and comes into force after the lapse of a year from the date of its publication.

Issued on: 27 Shawwal 1440
Corresponding to: 1 July 2019

Qaboos bin Said
Sultan of Oman

Published in Official Gazette 1300 issued on 7 July 2019.


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