Ministerial Decision No. 215 of 2023 On the Controls and Standards for Assessment of the Volume of the Agent’s Investments in the Commercial Agency to Request Non-Enforcement of the Provisions Related to the Expiration of the Commercial Agency Stipulated in Clauses A And B of Article 9(1) of Federal Decree-Law No. 50 of 2022 on the Commercial Agency Thereof Ten Years Before the Effective Date of the Law

The Minister of Economy,

- After perusal of Federal Law No. 1 of 1972 on the competencies of the Ministries and powers of the Ministers, and its amendments;

- Federal Decree-Law No. 32 of 2021 on Commercial Companies;

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

- Federal Decree-Law No. 50 of 2022 promulgating the Commercial Transactions Law;

- Cabinet Decision No. 89 of 2023 on the list of administrative penalties for acts committed in violation of the provisions of Federal Law No. 3 of 2022 on the Regulation of Commercial Agencies; and

- Based on the proposal of the Undersecretary of the Ministry,

Has decided:

Article 1 - Definitions

In application of the provisions of this Decision, the following terms and expressions shall have the meanings assigned the...