Federal Decree by Law No. (50) of 2022
Promulgating the Commercial Transactions Law
We, Mohammed bin Zayed Al Nahyan President of the United Arab Emirates,
Having reviewed:
- The Constitution;
- Federal Law No. (1) of 1972 concerning the Jurisdiction of Ministries and the Powers of Ministers, as amended;
- Federal Law No. (18) of 1981 Regulating Commercial Agencies, as amended;
- Federal Law No. (26) of 1981 concerning Commercial Maritime Transport, as amended;
- Civil Code promulgated by Federal Law No. (5) of 1985, as amended;
- Federal Law No. (20) of 1991 promulgating the Civil Aviation Law;
- Federal Law No. (18) of 1993 promulgating the Commercial Transactions Law, as amended;
- Federal Law No. (18) of 1995 concerning Simple Crafts;
- Federal Law No. (4) of 2000 concerning the Emirates Securities and Commodities Authority and Market, as amended;
- Federal Law No. (8) of 2004 concerning Financial Free Zones;
- Federal Law No. (17) of 2004 concerning Anti-Fronting in Commercial Transactions;
- Federal Law No. (6) of 2007 Regulating Insurance Business, as amended;
- Federal Law No. (2) of 2008 concerning NGOs and Foundations of Public Interest, as amended;
- Federal Law No. (6) of 2010 concerning credit transactions, as amended;
- Federal Law No. (9) of 2011 concerning Land Transport, as amended;
- Federal Law No. (4) of 2012 Regulating Competition;
- Federal Law No. (2) of 2014 concerning Small and Medium Enterprises;
- Federal Law No. (12) of 2014 Regulating the Profession of Auditors, as amended;
- Federal Law No. (11) of 2015 concerning the Control of Trading and hallmarking of Precious Stones and metals;
- Federal Decree-Law No. (9) of 2016 concerning Bankruptcy, as amended;
- Federal Law No. (17) of 2016 Establishing Centers of Mediation and Conciliation in Civil and Commercial Disputes, as amended;
- Federal Law No. (19) of 2016 concerning Combating Commercial Fraud;
- Federal Law No. (1) of 2017 concerning Anti-dumping and Countervailing and Preventive Measures;
- Federal Law No. (6) of 2018 concerning Arbitration;
- Federal Law No. (8) of 2018 concerning Financial Leasing;
- Federal Law No. (10) of 2018 concerning Product Safety, as amended;
- Federal Decree-Law No. (14) of 2018 concerning the Central Bank and the Regulation of Financial Facilities and Activities, as amended;
- Federal Decree-Law No. (20) of 2018 Concerning Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations;
- Federal Decree-Law No. (19) of 2019 concerning Insolvency;
- Federal Law No. (4) of 2020 in relation to Securing the Rights in Movables;
- Federal Law No. (15) of 2020 concerning Consumer Protection;
- Federal Law No. (6) of 2021 concerning Mediation in Civil and Commercial Disputes;
- Federal Law No. (11) of 2021 on the Regulation and Protection of Industrial Property Rights;
- Federal Decree-Law No. (31) of 2021 promulgating the Penal Code, as amended;
- Federal Decree-Law No. (32) of 2021 concerning Commercial Companies;
- Federal Decree-Law No. (33) of 2021 Regulating Employment Relationships, as amended;
- Federal Decree-Law No. (36) of 2021 concerning Trademarks;
- Federal Decree-Law No. (37) of 2021 concerning the Commercial Register;
- Federal Decree-Law No. (38) of 2021 concerning Copyright and Neighboring Rights;
- Federal Decree-Law No. (46) of 2021 concerning Electronic Transactions and Trust Services;
- Federal Decree- Law No. (20) of 2022 Regulating the Notary Public Profession;
- Federal Decree-Law No. (21) of 2022 Regulating the Profession of Experts before the judiciary;
- Federal Decree-Law No. (32) of 2022 concerning the Federal Judicial Authority;
- Federal Decree-Law No. (34) of 2022 Advocacy and Legal Consultancy Professions;
- Federal Decree-Law No. (35) of 2022 promulgating the Law of Evidence in Civil and Commercial Transactions;
- Federal Decree-Law No. (38) of 2022 promulgating the Code of Criminal Procedure; and
- Federal Decree-Law No. (42) of 2022 promulgating the Civil Procedure Law, and based on the Presentation of the Minister of Economy and the approval of the Cabinet,
We enact the following Decree-Law:
Article (1)
The Commercial code attached herewith shall enter into force.
Article (2)
Federal Law No. (18) of 1993 promulgating the Commercial code, as amended, as well as any provision that contradicts or is in conflict with the provisions of the Commercial code attached herewith are hereby repealed. The rules, resolutions and regulations implementing Federal Law No. (18) of 1993 referred to above shall continue to be in force in so far as they do not conflict with the provisions of the Commercial code attached to this Decree-Law until the resolutions and regulations replacing them have been issued.
Article (3)
The Minister of Economy shall issue the resolutions required for the implementation of the Commercial code attached herewith.
Article (4)
This Decree Law shall be published in the Official Gazette and shall enter into force as of 2 January 2023.
Mohammed bin Zayed Al Nahyan President of the United Arab Emirates
Issued by us in the Presidential Palace - Abu Dhabi
On: 7 Rabi Al-Awwal 1444 (AH) Corresponding to: 3 October 2022 (AD)