His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, has issued Law No. (1) of 2014 converting Dubai Aluminium (Dubal) into a private joint stocks company.
Pursuant to the law, the name of the new company is “Dubai Aluminium PJS” with a declared capital of Dh3 billion, headquartered in Dubai and may establish branches inside and outside the UAE.
Article (6) of that law stated that Dubai Aluminium PJS subrogates Dubai Aluminium in all legal and business obligations and rights starting from the date of effective of this law, and the employees of Dubai Aluminium shall benefit from their vested right.
Law No. (1) of 2014 null and void Law No. (17) of 2011 pertaining Dubai Aluminium, Decree No. (11) of 2013 pertaining the formation of the Board of Directors of Dubai Aluminium and any other legislation that contradict or challenge it; the rules and regulations applied currently in Dubai Aluminium, prior to this law, remains active to the limitation that do not contradict or challenge with it, unless replaced and/or amended. The law is considered active from the date of publication in the Official Gazette.
Supreme Council of Energy
In his capacity as Ruler of Dubai, Shaikh Mohammed issued Decree No. (1) of 2014 attaching a representative from Dubai’s Road and Transport Authority (RTA) to the Supreme Council of Energy. The decree is considered active from the date of publication in the Official Gazette.