The Cabinet,
- Upon reviewing the Constitution; and
- Federal Law No. 1 of 1972 Concerning the Competences of Ministries and Powers of Ministers, and its amendments thereof; and
- Federal Decree-Law No. 31 of 2023 Concerning Trust; and
- Based upon the proposal of the Minister of Finance and the Cabinet’s,
Has resolved as follows:
In application of the provisions of this Decision, the definitions stated in the aforementioned Federal Decree-Law No. 31 of 2023 shall be applied; and the following terms and phrases shall have the meanings assigned to each of them, unless the context requires otherwise:
Decree-Law: Federal Decree-Law No. 31 of 2023 Concerning Trust.
License: The licence of the Professional Legal Person and/or Professional Trustee, depending on the context.
Licensing Authority: The competent authority appointed by each Emirate in the State to issue licences for Professional Legal Persons and Professional Trustees in accordance with the provisions of the Decree-Law and this Decision.
Senior Management Positions: Gene...