Chapters:

Chapter One  |  Chapter Two  |  Chapter Three  |  Chapter Four  | Chapter Five

Chapter Four: Regulatory Rules
 

Article (11):

More than one company may be established to provide the service which is to be Privatised in order to avoid monopoly as far as possible and as may be appropriate to the Project nature.

Article (12):

The Project shall be offered in accordance with the Government Tender Law and Regulations issued by Royal Decree 86/84 as amended, the Tender Board may approve the offer of the Project according to other rules and procedures which are appropriate to the Project subject to the principle of transparency and clarity in the offering procedures.

Article (13):

1. The Project Company shall take the form of a public joint stock company and it may on approval of the Council of Ministers take the form of a closed joint stock company or limited liability company where the nature of the Project so requires;

2. The foreign participation percentage in the Project Company may amount to 100 per cent of its capital and the single founder is not restricted by a specific percentage of participation in the Project Company;

3. The Project Company, in case of subscription less than the offered shares, shall be deemed to convert to a public joint stock company and the Ministry shall, in coordination with the Ministry Of Commerce And Industry and the Capital Market Authority, decide the manner in which coverage is to be provided for the remaining shares

Article (14):

Subject to the provisions of this law, independent regulatory authorities may be established to regulate the relationship between the government, investor and consumer and the establishment of such authorities and determination of their functions and procedures shall be in accordance with the law, provided such authorities shall, in the light of practical experience, subsequently be merged in one regulatory authority comprising all sectors.

Article (15):

The Project Company shall enjoy the following privileges and incentives:

1. It shall be treated for the purposes of taxation as companies wholly owned by Omanis;

2. It shall enjoy the same land rights granted to companies wholly owned by Omanis; and

3. It shall enjoy any other incentives and facilities provided for in other laws.

Article (16):

All rights and liabilities of the establishment that has been Privatised shall be transferred to the Project Company in accordance with the agreements concluded with it.

Article (17):

The Minister responsible for the Project shall be authorized to sign the relevant Project Agreements.

Article (18):

It shall be prohibited for any person holding a position in the government or undertaking performance of work for the government to divulge any confidential information relating to the Privatisation Projects.

Chapters:

Chapter One  |  Chapter Two  |  Chapter Three  |  Chapter Four  | Chapter Five