Cabinet Decision No. 89 of 2023 On the Issuance of the Regulation of Administrative Penalties for Acts committed in Violation of the Provisions of Federal Law No. 3 of 2022 on the Regulation of Commercial Agencies

The Cabinet,

- Having perused the Constitution; and

- Based on the proposal presented by the Minister of Finance and the approval of the Cabinet,

Has decided as follows:

Article 1 - Definitions

In applying the provisions of this Decision, the following terms shall have the meanings indicated opposite each of them, unless the context of the provision requires otherwise:

Law: Federal Law No. 3 of 2022 on the Regulation of Commercial Agencies.

Ministry: The Ministry of Economy.

Minister: The Minister of Economy.

Article 2 - Scope of Application

The provisions of this Decision shall apply to commercial agencies registered with the Ministry.

Article 3 - Administrative Penalties

1. Without prejudice to any severer penalty or procedure provided for by the Law, the Ministry may impose administrative penalties for acts committed in violation of the provisions of the Law, as listed in the table attached to this Decision.

2. As an exception to the provisions of gradual ...