The Cabinet,
- Having reviewed:
- The Constitution; and
- Federal Law No. 1 of 1972 Regarding the Competencies of Ministries and Powers of the Ministers, as Amended; and
- Federal Decree-Law No. 5 of 2011 Regarding the Organization of the Boards of Directors, Boards of Trustees and Committees in the Federal Government; and
- Federal Law No. 7 of 2012 Regulating the Expertise Profession before the Judicial Authorities; and
- Federal Decree-Law No. 9 of 2016 on Bankruptcy; and,
- Based on the proposal of the Ministry of Finance and the approval of the Cabinet,
Hereby resolves as follows:
For applying the provisions of this Decision, the following words and expressions shall have the meaning assigned thereto respectively, unless the context requires otherwise:
State: The United Arab Emirates.
Ministry: The Ministry of Finance.
Minister: The Minister of Finance.
Emirate: Any of the member emirates of the Federation.
Committee: The Financial Restructuring Committee formed according to the provisions of this Decision.
Competent Supervisory Body: The local or federal government body nomina...