(MENAFN- Muscat Daily) His Majesty Sultan Qaboos bin Said on Tuesday issued Royal Decree 32/2015 promulgating the system (law) of the Public Establishment for Industrial Estates (PEIE).
Article 1
states that the PEIE shall be affiliated to - come under the jurisdiction of - the Minister of Commerce and Industry and that the system attached to this Decree shall apply to the PEIE.
Article 2
stipulates that the main premises of the PEIE shall be in Muscat Governorate and that this establishment may have branches or offices within the sultanate or abroad.
Article 3
states that the PEIE shall have a legal identity enjoy financial and administrative autonomy and empowered to own fixed and moveable assets expend them and perform all functions and tasks necessary for the accomplishment of its objectives and any action deemed necessary for the achievement of those objectives or related to them or complementary of them.
Article 4
stipulates that the PEIE shall undertake the collection of fees for municipal services that it offers to companies or establishments or commercial representing offices or their Omani or foreign branches that are licensed to practise authorised activities within the estates affiliated to the PEIE.
Article 5
states that the board of directors of the PEIE shall after the approval of the Council of Ministers designate sites within PEIE-affiliated estates so that the parties concerned can extend necessary services to licensed investment activities including those related to the issuance of licenses or approvals or visas or registration of activities or other services provided one or more employees undertake the prescribed specialisations as per the laws Royal Decrees or regulations regulating these services within the purviews of an industrial estate.
The functioning of these parties shall be in line with a decision to be issued by the Minister of Commerce and Industry after liaising with them.
Article 6
states that it is permissible - under a decision from the Council of Ministers and in accordance with the PEIE board's recommendation - that some PEIE-affiliated estates or some investments therein may be exempted from all or some provisions of the Foreign Capital Investment Law (promulgated by Royal Decree 102/94) and the Commercial Companies Law (No. 4/74) as well as the prescribed Omanisation percentage in accordance with rules in force. These estates/investments may be granted other exemptions or incentives not stated in this Decree.
Article 7
exempts the PEIE and PEIE-owned companies that are established within (industrial) estates affiliated to the PEIE with the purpose of implementing or managing projects of services and public utilities or any other basic projects therein.
Article 8
stipulates that the Chairman of Board of Directors of the PEIE shall issue the bylaws and decisions necessary for the implementation of provisions of this Decree and the system attached to it after the approval of the Minister of Commerce and Industry. Until such bylaws and decisions are issued the current regulations bylaws decisions and systems shall continue to be enforced without prejudice to the provisions of this Decree or the system attached.
Article 9
states that the Articles of Association of the PEIE No 4/93 shall be deemed null and void. All that contradicts or contravenes this Decree or the system attached shall be cancelled.
Article 10
states that this Decree shall be published in the official gazette and enforced on the day following its date of publishing.
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