We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State issued by Royal Decree 101/96,
and the Commercial Companies Law 4/74 and its amendments,
and in pursuance of public interest,
have decreed as follows
Article I
The text of article 13bis(8) of the mentioned Commercial Companies Law is hereby replaced with the following text:
The merger must be announced by publication in two daily newspapers for two consecutive times and registered in the Commercial Register. The implementation of the merger decision must be after the lapse of three months from the date of its publication in the Commercial Register. The Minister of Commerce and Industry may, by a decision published in two daily newspapers for two consecutive times, reduce this period if the public interest so requires. The creditors of the merged company may, within the prescribed time limit, object to the merger with the company by a registered letter. The merger shall remain suspended unless the creditor waives his objection or the competent court decides to reject it by a final judgment or the company fulfils the debt if it is immediate or provides sufficient guarantees to fulfil it if it is deferred. and if no objection is submitted within the deadline, the merger must be considered effective.
Article II
This decree must be published in the Official Gazette, and comes into force on the date of its issuance.
Issued on: 24 Rabi Al-Awwal 1426
Corresponding to: 3 May 2005
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 791 issued on 15 May 2005.