The Council of Ministers,

After perusal of the Constitution;

Federal Law No. 4/2000 on the UAE Securities and Commodities Authority and Market, and its amendments;

Federal Decree-Law No. 22/2020 on the distribution of competencies and powers between the Securities and Commodities Authority and the Securities and Commodities Markets licensed in the State;

Federal Decree-Law No. 32/2021 on Commercial Companies;

Cabinet Decision No. 11/2000 on the Regulation of the Licensing and Control of the Market, and its amendments;

Cabinet Decision No. 13/2000 on the functioning system of the Securities and Commodities Authority, and its amendments;

Securities and Commodities Authority Decision No. 4/RM/2021 on the distribution of the competencies and powers between the Authority and the securities markets licensed in the State; and

Based on the proposal of the Chairman of the Board of Directors of the Securities and Commodities Authority, and the approval of the Council of Ministers,

Has decided the following: