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Clyde & Co | Year of the 50th legislative amendments – out with the old and in with the new
Key considerations for directors of UAE companies
As part of the celebrations of the UAE’s 50th anniversary, the government revealed significant legislative changes – the largest legal reforms in the country’s history. Most of these changes came into effect on 2 January 2022. Taken together, they include important amendments for directors to be aware of across the legislative suite.
In this special briefing, we focus on three key areas within the amendments which are critical for directors to understand:
- Personal liability – changes which may affect the responsibility that directors bear for the acts of companies they manage, or for their conduct in office
- Continuing obligations and corporate governance – changes made to the management of companies which must be complied with by UAE incorporated entities
- New risks and opportunities for corporates – amendments which require important organisational change, or the introduction of new procedures, to minimise business risk, or to take advantage of new rights to protect their businesses.
