CMA, OCCI hold workshop on new Commercial Companies Law

Muscat - 

The Capital Market Authority (CMA), in cooperation with Oman Chamber of Commerce and Industry (OCCI), on Wednesday organised a workshop on ‘Public Joint Stock Companies in the new Commercial Companies Law’ that aimed at introducing the new amendments and organisational provisions, to emphasise the principles adopted by the legislator in drafting the law.

H E Abdullah bin Salim al Salmi, executive president of the CMA, made a speech during which he explained that the workshop reviewed some of the features and developments included in the new law issued by Royal Decree 18/2019.

Eng Redha 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 highlighted features of the new Commercial Companies Law and consequences of cancellation of nominal value in the preparation of the financial statements.

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