We, Zayed Bin Sultan Al Nahyan, President of the United Arab Emirates,
- after perusal of the Constitution; and
- Federal Law No. 1 of 1972, concerning Ministries competences, Minister's powers and Laws amending thereto; and
- Federal Law No. 20 of 1991, promulgating Civil Aviation Law; and
- Federal Law No. 4 of 1996, concerning the establishment of General Civil Aviation Authority; and
According to the Minister of Communication presentation approved by the Minister's Cabinet and the Federal National Council and ratified by the Federal Supreme Council,
Have issued the following law:
Article 4 of Federal Law No. 4 of 1996, concerning the establishment of General Civil Aviation Authority shall be amended to read as follows:
ARTICLE 4 :
"Authority shall retain (50%) of the net profits to form a Regular Reserve for the capital until such Reserve reaches half of the paid-up capital. Same portion shall continue to be retained whenever the Regular Reserve becomes less than this rate. The balance portion of (50%) of the net profits shall b...