In brief On 28 September 2023, the United Arab Emirates (UAE) has issued Federal Law No. 36 of 2023 (the “New Competition Law”), which has repealed and replaced Federal Law No. 4 of 2012. The New Competition Law signals a new era of enforcement by the UAE Ministry of Economy by providing a functional competition regime through, inter alia: extending a wider scope of application to almost all economic activities; expanding its mandate by prohibiting…
In brief Following rounds of consultation, the United Arab Emirates (UAE) has issued the new and much anticipated Federal Law No. 3 of 2022 regulating Commercial Agencies (“New Law”), repealing and replacing the longstanding Federal Law No. 18 of 1981, which has been amended many times including most recently in May 2020. The New Law introduces various changes and grants for the first time, the right for international companies that are not owned by UAE…
On 16 March 2022 in Cairo, Egypt, members of the Arab Competition Network (the “ACN”) held their first conference to launch this new network. This alert provides a high-level presentation of the ACN, as well as an overview of its mission and goals. Background and Goals of the ACN The ACN is a product of the efforts and collaboration of the Arab League and the Egyptian Competition Authority. The ACN aims to provide a platform…
In brief On 20 September 2021, the UAE has published Federal Decree Law No. 46 of 2021 on electronic transactions and trust services (the “Electronic Transactions Law”) which repeals Federal Law No. 1 of 2006 (the “Previous Law”) and reinforces the UAE’s digital transformation strategy and commitment towards a digital economy. The Electronic Transactions Law will come into effect on 2 January 2022, however, businesses will be given a one-year grace period for compliance. Under…