We, Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates,
Having reviewed:
- The Constitution;
- Federal Law No. 1 of 1972 on the Competences of Ministries and the Powers of Ministers, as amended;
- Federal Law No. 8 of 2018 on Finance Lease; and
- Based on the Proposal submitted by the Minister of Finance, and the approval thereof by the Cabinet,
Have enacted the following Decree-Law:
For the purpose of applying the provisions of this Decree-Law, the following words and expressions shall have the meanings assigned thereto respectively, unless the context requires otherwise:
The State: The United Arab Emirates.
The Minister: The Minister of Finance.
The Central Bank: The Central Bank of the United Arab Emirates.
Person: A natural or legal person.
Asset:
1. Every non-consumable object owned or legally possessed by the Lessor, pursuant to the provisions of this Decree-Law and the decisions issued in pursuance hereof, and used in the Lessee's craft, trade, business or personal uses, including:
a. Off-plan real estate units that may be the subject of legal tr...