RAK Digital Assets Oasis Companies Regulations 2023

Part 1 — General

1. Title

These Regulations may be cited as the RAK Digital Assets Oasis Companies Regulations 2023 ("Companies Regulations").

2. Legislative Authority

1. These Companies Regulations have been issued by the Board of Directors of the Authority, pursuant to RAK Law No. 2 of 2023, promulgated by His Highness Sheikh Saud Bin Saqr Bin Mohammed Al-Qasimi, Ruler of Ras Al Khaimah.

2. The Board of Directors of the Authority may issue any legislation, including rules, guidelines, circulars and directives to supplement these Companies Regulations.

3. The Board of Directors of the Authority has the right to repeal, revise, amend or modify from time to time any provisions of these Companies Regulations.

3. Commencement

These Companies Regulations shall come into force on the date of its issuance by the Board of Directors of the Authority.

4. Application of the Regulations

1. These Companies Regulations apply in the Zone.

2. These Companies Regulations apply to the following entities in the Zone:

(a) A company limited by shares;

(b)A company limited by guarantee; and

(c) A branch.

3. References in these Companies ...