CabinetHolds ItsRegular Meeting/2/

(MENAFN- QNA) The Cabinet also considered a draft law concerning the status of Qatar Financial Centre and took the appropriate related decision.

The draft law includes Qatar Financial Centre terms for the Qatar Financial Centre seat authority, the Centre's Board status and authority, the companies registry, Regulatory Authority, the Dispute Settlement Authority. It also includes setting of regulations and activities permitted in the Centre and administrative sections, licensing processes, legislative guarantees, the centre revenues authority and accountancy requirements and Centre responsibility and Regulatory Authority, the Dispute Settlement Authority and the Centre bodies and taxes and overlap with other laws.

The eight annexes of the draft law also contains detailed provisions concerning the formation and powers of the Chairman of the Center, regulations, permitted activities and the Regulatory Authority as well as Qatar international Courts, the Regulatory Tribunal, the Civil and Commercial Court and the Dispute Resolution Authority, the procedural rules of civil and commercial procedures before the Civil and Commercial Court at Qatar International Court and the procedural rules of the Regulatory Tribunal at Qatar International Court.