2.
Legislative Procedures
The
1971 Constitution agreed by the Rulers of the Emirates provided
that the Supreme Council of Rulers shall be the highest legislative
authority in the UAE. The Constitution also provides for the establishment
of a National Assembly whose members are appointed by the Emirates.
Federal laws are promulgated by the Supreme Council of Rules approving
laws presented by Federal Council of Ministers and the national
Assembly. While the legislation of laws on substantive matters is
reserved to the Federal Government which had in the past few years
taken significant steps to regulate corporate and commercial
matters, local authorities in the different Emirates are authorised
to issue Decrees regulating local matters.
Main
corporate and commercial laws
Labour Law No. 8 of 1980.
Commercial Agencies Law No. 18 of 1981 (as
amended).
Maritime Law No. 26 of 1981.
Commercial Companies Law No. 8 of 1984 (as
amended).
Civil Transactions Law (the Civil Code) No.
5 of 1985
Trade Marks Law No. 37 of 1992
Commercial Transaction Law No. 18 of 1993.
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