STA Law Firm has a team of settlement experts to represent secured creditors, debtors, trustees, equity holders and suppliers....
Read more informationCorporate Law Firm in UAE-& across MENA. Corporate Lawyers in Dubai...
Read more informationSTA Law firm has a dedicated team of franchise lawyers who advises and counsels the franchise arrangements, structuring franchise programs, franchise network and distribution. ...
Read more informationSTA - Expert Team of Commercial & Contracts Lawyers in Dubai & UAE...
Read more informationSTA Law Firm is one of the leading law firm in Banking and Finance, Capital Markets, DIFC, Compliance and Regulatory practices. ...
Read more informationContact our expert team of property lawyers in Dubai & across UAE....
Read more informationSTA Law Firm's team of employment lawyers in Dubai, Abu Dhabi and across UAE advise universities, engineering & shipping firms, banks, & other industries...
Read more informationIntellectual Property Law Firm. Patent, Trademark Registration UAE...
Read more informationTechnology & Media Law Firm in Dubai - Expert Lawyers...
Read more informationSTA has a dedicated team of fraud & criminal lawyers in Dubai & UAE...
Read more informationShipping Law Firm in Dubai | Offices - Middle East, Asia & Europe....
Read more informationMergers and Acquisitions Law Firm in Dubai and United Arab Emirates...
Read more informationIn today’s competitive business environment the mining industry is becoming a very attractive option for foreign investors. New projects are being launched, but we can appreciate that foreign investors will find the mining industry......
Read more informationSTA lawyers recognize that the healthcare industry comprises of a variety of individuals, professions, teams and organisations that may need our legal services. We have considerable knowledge and experience......
Read more informationClients rely on and trust STA's banking lawyers to take a timely, practical and individually tailored approach to meet specific requirements of our clients. ...
Read more informationInsurance Practice at STA - Expert Insurance Lawyers in Dubai & UAE...
Read more informationSTA is a leading technology and media law firm in Dubai & across UAE...
Read more informationHospitality Lawyers in UAE - Expert Advice to Hospitality Industry...
Read more informationSTA’s seasoned team of property lawyers in Dubai, Abu Dhabi and across the UAE have thorough and extensive knowledge and experience in dealing with construction and real estate law matters. Learn more about our expertise and our team of property lawyers...
Read more informationSTA's lawyers in UAE specialize in all areas of contentious as well as non-contentious discipline in oil and gas industry and advice on both upstream and downstream work. Consult one of our Senior Energy Lawyers in Dubai or other offices today!...
Read more informationCombining variety of practice disciplines to provide extensive advice and counsel to clients, STA’s FMCG practice represents companies in a broad range of industries including large scale franchisors, Fortune 250, and multinationals ...
Read more informationShipping and Maritime Law Firm - UAE, Middle East, Asia and Europe. Expert advice on ship building, ship fiance, sale and purchase, compliance, due diligence and more. Our lawyers advice on all types of vessel including bulk carriers, tankers, cruise ships, offshore rigs and support vessels....
Read more informationSTA's Team of Lawyers in Abu Dhabi, Bahrain, Doha, UAE, Luxembourg, Moscow, RAK, Sharjah, and Singapore. Find a Lawyer. ..
Read more informationCommercial Companies Law In Bahrain Amended To Be In Line Of International Market
Kingdom of Bahrain through recent amendments via Legislative Decree No. 1 of 2018 amended law on Commercial Companies Law (“CCL”), and its most recent amendments in Legislative Decree No. 1 of 2018.
The amendment amends Article 18 permitting a shareholder in any one company to be a shareholder of another competing company but subject to Corporate Governance Code as well as the company constitutional documents.
CCL under its Articles 172 and 240 require Board of Directors of Joint Stock Companies (public or a closed company) to have compulsorily independent and non-executive directors.
The board of directors (BOD) shall be informed of any direct/indirect personal interest of a board member in any matter. The new amendments cast this duty on the Chairman to have a thorough description of such interests.
Under the new Article 184, a Joint Stock company is required to form an audit committee through a decision of the Board of Directors. The audit committee will have the authority to revise all financial and accounting documents related to the company and ensure compliance with all internal and external policies.
In conclusion, greater restrictions are included in the CCL in an effort to decrease the level of violations within a company also simultaneously increase protection of interest of the company and its stakeholders.