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 Companies Law promulgated by Royal Decree 4/74,
and the Capital Market Law promulgated by Royal Decree 80/98,
and after presentation to Majlis Oman,
and in pursuance of public interest,
have decreed as follows
Article I
The attached Commercial Companies Law shall apply.
Article II
The Minister of Commerce and Industry and the Chairman of the Capital Market Authority, each according to his competence, shall issue the regulations implementing this law within a period not exceeding one year from the date of its entry into force, and they shall issue the decisions necessary to implement the provisions of this law, and until they are issued the existing regulations and decisions shall continue to operate to the degree that they do not contradict with the provisions of this law.
Article III
Commercial companies existing at the date of entry into force of this law shall rectify their status within one year from the date of its entry into force.
Article IV
The Commercial Companies Law promulgated by Royal Decree 4/74 is hereby repealed, as well as every provision contrary to this law or in conflict with its provisions.
Article V
This decree shall be published in the Official Gazette, and comes into force after 60 (sixty) days from its publication.
Issued on: 8 Jumada Al-Thani 1440
Corresponding to: 13 February 2019
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 1281 issued on 17 February 2019.