Article 160 now covers public and private public limited companies. In addition, Article 184 obliges the company to publish the half-yearly financial report in Arabic and on the company`s website after it has been reviewed by the auditor, new shares are always excluded from this publication. Under the amending law, the rules applicable to public limited companies have been strengthened, as evidenced by the additional disclosure requirements, the obligation of an audit committee for listed companies and the mandatory obligation to appoint independent directors. In addition, the amending law recognizes the importance of modern technologies by allowing their use for meetings and votes. With the introduction of these changes, Qatar has aligned its company law with international best practices. The amending Act provides that the Minister of Trade and Industry (the “Minister”) will make regulatory decisions to meet the requirements of Qatar`s Anti-Money Laundering and Combating the Financing of Terrorism Act. Regulatory decisions specify, among other things, what documents and information companies must keep and how these documents must be submitted to the Department of Trade and Industry (the “Ministry”). With this change, private joint-stock companies can now be listed on the stock exchange. To this end, the Qatar Financial Markets Authority (QFMA) will issue the guidelines. According to the law, a commercial company is an agreement in which a profitable project occurs. Two or more natural or legal persons lend by providing capital or works and share the profits and losses of the project. 10 new sections were added to the CDC, the first being section 18 (repeated), which was amended to allow private corporations to enter the capital market. The amending law introduced another new requirement in Article 107/bis, which requires the boards of directors of companies listed on the Qatar Stock Exchange to form an audit committee composed of the members of the board of directors.
Article 133/a provides that, for a period of one year, public investment companies are prohibited from concluding (i) a single transaction or (ii) several asset disposal transactions (including one or more transactions the total price of which would be equal to or greater than 51 % of the market value or net assets of the company as shown in the last reported accounts). the lowest amount being retained, unless approved by the Extraordinary General Meeting. A partnership consists of two or more partners who are jointly responsible for the liabilities of the partnership. All common partners must be Qatari citizens. Each partner has the authority to conduct business transactions under the name of the company. However, no partner may practise on his own account or on behalf of a third party without first obtaining the consent of the other partner or partners of the partnership. Several amendments have been made to the provisions relating to public limited companies (CSCs). Significantly, the CCA was amended to open the door for private JSCs to be listed on the stock exchange. The Qatar Financial Markets Authority (“QFMA”) should publish rules and/or guidelines for the listing of private CSCs.
Article 184, as amended, exempts listed companies from the obligation to publish half-yearly financial reports. In Qatar, Law No. 11 of 2015 promulgates the law of commercial companies. Recently, an amendment was made to Law No. 11 of 2015 of the Qatar Commercial Companies Law. These changes will improve Qatar`s regulatory framework. The company can take different forms depending on its size, the relationship between the units involved and the desired structure – either individually, as part of a larger group, or within a holding company. The types of accepted companies allowed to operate in Qatar include: Singapore`s Companies Act Singapore is famous for three important things; Finance, trade and transport. It is a “technology-ready” nation. The country is also known for its laws and regulations. In addition, as an incentive, the Ministry of Trade and Industry may exempt foreign enterprises that invest in industries benefiting from a number of exemptions, including income tax for a period of 10 years, customs duties on imported equipment and machinery necessary for the establishment of the enterprise, and imported raw materials and semi-finished products necessary for production.
that are not available in Qatar. Apart from the company forms mentioned above, there are a number of different business partnerships. According to the law of commercial companies, there are different types of companies, they are: Prior to the amending law, the appointment of independent members of the board of directors was left to the discretion of public limited companies. Section 97 of the German Companies Act, as amended, now stipulates that one third of the members of the board of directors must be independent. In terms of remuneration, board members of private investment companies can receive a lump sum payment if the companies do not make a profit, under the amending law. However, this must be laid down in the statutes and requires the prior approval of the general meeting.
