Notification from Real Law: This Decision abrogates Ministerial Decision No. 76 of 2020
Minister of State for Financial Affairs:
- Having reviewed the Constitution,
- Federal Law No. 1 of 1972 on the Competencies of the Ministries and Powers of the Ministers and its amendments,
- Federal Law No. 6 of 1985 Promulgating the Civil Transactions Law and its amendments,
- Federal Decree-Law No. 32 of 2023 on Financial Leasing,
- Ministerial Decision No. 76 of 2020 on the Accounting Standards for the Financial Leasing System,
- As required by the public interest,
has decided:
The definitions provided in Federal Decree-Law No. 32 of 2023 referred to herein shall apply to this Decision, in addition, the following words and phrases shall have the meanings indicated next to each of them, unless the context requires otherwise:
Decree-Law: Federal Decree-Law No. 32 of 2023 on Financial Leasing.
Short-Term Lease Contract: A lease contract whose term at the commencement date does not exceed 12 months.
Sublease: A transaction whereby the lessee ...