Hamdan bin Mohammed approves the Firm’s Articles of Affiliation and points a Decision forming its Board of Administrators
– The laws amends the authorized standing of Dubai Taxi Company, transitioning it right into a public joint-stock firm (PJSC)- The Regulation outlines that the Firm’s length is 99 years and is robotically renewable for the same interval in accordance with the Firm’s Articles of Affiliation
In his capability because the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Regulation No. (21) of 2023 pertaining to ‘Dubai Taxi Firm’.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Govt Council of Dubai, additionally authorized the Council’s Decision No. (93) of 2023 on ‘Dubai Taxi Firm’s’ Articles of Associations together with the bylaws and rules. This consists of the initiation of floating the Firm’s shares for an Preliminary Public Providing (IPO) in accordance with the ratios established by The Govt Council of Dubai. It additionally encompasses defining the needs and aims of the Firm, in addition to the procedures for the appointment and election of the Firm’s Board of Administrators, amongst different bylaws and rules that govern the Firm’s operations.
HH Sheikh Hamdan additionally issued Govt Council Decision No. (92) of 2023 forming the Board of Administrators of ‘Dubai Taxi Firm’ chaired by Abdul Mohsin Ibrahim Younis. Ahmed Ali Al Kaabi serves as Vice Chairman of the Board. Different Board members embody Shehab Hamad Abu Shehab, Youssef Ahmed bin Ghalaita, Dr. Hanan Sulaiman Al Suwaidi, Abdulla Mohammed bin Damithan, and Issa Abdullah bin Natouf.
The 2 Resolutions are efficient from their date of issuance and might be printed within the Official Gazette.
‘Dubai Taxi Firm (PJSC)’Regulation No. (21) of 2023 amends the authorized standing of Dubai Taxi Company, created pursuant to Govt Council Decision No. (48) of 2016. It’s now recognised as a public joint-stock firm named ‘Dubai Taxi Firm (PJSC),’ with monetary and administrative independence, enabling it to pursue its actions and aims.
The Regulation additionally mandates the revision of the time period ‘Dubai Taxi Company’ wherever it’s referenced within the present legal guidelines of the emirate, to be substituted with ‘Dubai Taxi Firm (PJSC)’.
The Regulation additionally outlines that the Firm’s length is 99 years, ranging from the date of its registration within the industrial register as per the prevailing legal guidelines within the emirate. Moreover, it’s robotically renewable for the same interval in accordance with the Firm’s Articles of Affiliation.
Firm Targets The Regulation specifies the Firm’s aims, together with offering transportation providers utilizing taxis, in compliance with the present rules within the emirate, and providing specialised transportation utilizing self-driving autos and flying taxi providers, with adherence to present rules. Moreover, the Firm is concerned in leasing autos with or with out drivers, facilitating the supply of certified drivers., partaking in leasing of bikes for cargo transportation firms and pursuing different functions outlined within the Firm’s articles.
Passenger Transport CompaniesIn response to the Regulation, ‘Dubai Taxi Firm (PJSC)’ will present passenger transport providers in areas and areas specified by the present laws within the emirate, or as decided by a decision from the Chairman of The Govt Council of Dubai.
‘Dubai Taxi Firm (PJSC)’ is permitted to outsource passenger transportation providers via contractual agreements with firms and entities. The contract specifies its length, rights and obligations of each events, with out contravening the provisions of this Regulation and the prevailing rules within the emirate.
This Regulation annuls Govt Council Decision No. (48) of 2016 pertaining to Dubai Taxi Company and another laws which will contradict with this Regulation. Selections and rules issued to implement Decision No. (48) of 2016 stay in place so far as the don’t contradict with articles of this Regulation till new selections and bylaws are issued to exchange them.
This Regulation is efficient from the date of its issuance and might be printed within the Official Gazette.
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