Cabinet Decision No. 70/2021 On the Regulation of the Trust Register

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The Cabinet,

After perusal of the Constitution;

Federal Law No. 1/1972 on the competencies of the Ministries and powers of the Ministers, and its amendments;

Federal Decree-Law No. 19/2020 on the trusts; and

Based on the proposal of the Minister of Finance and the approval of the Cabinet;

Has decided:

Article 1 - Definitions

In implementation of the provisions of this Decision, the following terms and expressions shall have the meanings assigned thereto unless the context requires otherwise:

  • State: The State of the United Arab Emirates.

  • Minister: The Minister of Finance.

  • Decree-Law: Federal Decree-Law No. 19/2020 on the Trust.

  • Trust: The allocation of funds by virtue of a trust instrument for the benefit of the beneficiary, or for charity or private purposes, in accordance with the provisions determined by the Decree-Law. A trust is deemed among the principal real rights.

  • Trust Funds: Any movable or immovable assets, and any related properties, and any right that exists or that could exist, inside the State or abroad.