CMA, OCCI Organize Workshop on New Commercial Companies Law

Muscat, The Capital Market Authority (CMA), in cooperation with Oman Chamber of Commerce and Industry (OCCI), today organized a workshop on “Public Joint Stock Companies in the new Commercial Companies Law” that aimed at introducing the new amendments and organizational provisions, to emphasize the principles adopted by the legislator in drafting the law.

Abdullah bin Salem al-Salmi, CEO of CMA, made a speech during which he explained that the workshop reviewed some of the features and developments included in this law issued by Royal Decree No. (18/2019).

Ridha bin Juma al-Saleh, Deputy Chairman of the Board of Directors of OCCI for Administrative and Financial Affairs, said that the new Commercial Companies Law will contribute to achieving a great ease in registering companies, enabling them to operate within the Sultanate and provide the appropriate environment to attract many local and foreign investments, in addition to eliminating many current obstacles and challenges.

The workshop included several themes that highlighted features of the new commercial companies law, general assemblies, and the board of directors in the joint stock companies according to the new law, in addition to the consequences of the cancellation of nominal value in the preparation of the financial statements.

Source: Oman News Agency