DUBAI Court Circulars

Circular Concerning Procedures For Anti-Money Laundering (2004), Federal Laws

In order to prevent brokers from taking advantage -thorough the competitive environment fo the securities markets in the country - to launder funds by ignoring the source of funds of some customers,
And in accordance with the provisions of Union Law No. (4) of 2002, regarding the criminalization of moey laundering, the Board of Directors of Securities and Commodities Authority has decided the following in the this regard: 

Article 1 Definition of money laundering Money laundering refers to purchase of securities with funds, whose source in not identified accurately, or emanating from an unknown or disguised source, so that it appears to have originated from a legitimate source, where in fact it has not.
Article 2 Scope of application of procedures These procedures apply to the securities markets licensed in the country, and to brokers, working at them.
Article 3 Investros accounts and required documents Financial markets and/or brokers, while opening any account, shall undertake to ensure obtaining all information and necessary documents which include the following: a- Full names(s) of customer(s) and his/their address(es). b- Trade licence(s) c- Place of work. d- Checking the original passport and keeping a copy thereof initialed by the relevant officer.
Article 4 Settlement procedures All settlement transactions between the investor, the broker and the financial markets, whose cash value equal to or exceed forty thousand dirhams (AED 40.000) must be recorded per the attached form No. (1).
Article 5 1- Reporting unusual transactions Financial markets and/o brokers working at them shall undertake to report to the examination and follow -up section at the Securities and Commodities Authority any unusual transaction, per a special form. The party which receives STR's must analyze and check these reports prior to sending them to AMLSCU at the Central Bank to take the necessary action in their reard. 2- Each financial market shall undertake to appoint an officer responsible for compliance and for contacting the Securities and Commodities Authority to report any suspicious money laundering cases, and to maintain records in their regard. 3- The financial market which fails to report unusual or suspicious cases, as previously mentioned, shall be liable to penalties.
Article 6 Staff training The compliance officer in each financial market shall be responsible for a training programme for the staff involved in receiving cash, overseeing accounts and preparing STRs.
Article 7 Record and File keeping system Each financial market shall establish a file keeping system, obliging representatives of brokers, who work at it, to keep all corresppondence, contracts and transactions, they carry out, in special files. These files shall be kept and made available for the Authority's examiners and law enforcement authorities of Union Law No. (4) of 2002, regarding criminalization of money laundering, for a minimum period of five (5) years.
Article 8 Interpreting the provisions of the circular The Chairman of the Board of Directors of the Securities and Commodities Authority shall be teh sole and only interpreter of the provisions of this circular.
Article 9 Implementation procedures These procedures hall come into force from 18-2-2004. This entails making arrangements and taking the necesary steps from now.
Article 10 Publication of the Circular The circular shall be notified to the concerned to implement its provisions and shall be published in the offical Gazette in both Arabic and English. Any circulars, notices, decisions or directives that are in conflict with the provisions of theis circular shall become cancelled.
Article 11 The attached forms are an integral part of this circular.

Abu Dhabi Judicial Department Info

The Abu Dhabi Judicial Department was established on June 15, 2007 under law No. 23 of 2006 to ensure the delivery and administration of justice and equality to all citizens and residents throughout the Emirate of Abu Dhabi.

The Department supervises and coordinates the primary legal and judicial mechanisms and processes that protect individual rights and safeguard the rule of law through a tri-tiered court system, Court of Cassation, Court of Appeals, Courts of First Instance.

In addition, the Department’s service divisions such as Fatwa, Authentication, Notary Public, Family Guidance, Reconciliation and Settlement Committees, as well as specialised courts work concurrently to ensure the administration of justice in the Emirate. Each court is managed by a Court President and supported by dedicated judges and administrative staff.

Vision
An efficient and independent judicial system based on excellence that provides world class judicial services.

Mission
Safeguard the rule of law by ensuring justice, freedom and peace in society.

Objectives

Access to justice.
Fair and accomplished judicial system that provides effective and innovative judicial services.
Public trust and confidence.
Highly qualified workforce and motivating work environment.
Transparency and accountability.

Address: Abu Dhabi Judicial Department
Musaffah Street
Near Zayed Sports City
Abu Dhabi
View location on the map

P.O. Box: 84
Phone: +971 2 444 8300
Fax: +971 2 444 3435
E-Mail: infocenter@adjd.gov.ae
Website: http://www.adjd.gov.ae

ARBITRATION LAW UAE

ARBITRATION LAW UAE:

Currently there is no formal legislation within the UAE regarding the use of arbitration thus it is at present governed by the UAE Civil Procedure Code, Federal Law No. (11) of 1992. Please find below all relevant sections of said code regarding the use of arbitration.

	The UAE Civil Procedure Code, Federal Law No. (11) of 1992 Chapter Three ARBITRATION  Article (203) 1.     The parties to a contract may generally stipulate in the basic contract or by a supplementary agreement that any dispute arising between them in respect of the performance of a particular contract shall be referred to one or more arbitrators and may also agree to refer certain disputes to arbitration under special conditions. 2.     No agreement for arbitration shall be valid unless evidenced in writing. 3.     The subject of the dispute shall be specified in the terms of reference or during the hearing of the suit even if the arbitrators were authorized to act as amiable compositors; otherwise the arbitration shall be avoid. 4.     Arbitration shall not be permissible in matters, which are not capable of being reconciled. An arbitration agreement may be made only by the parties who are legally entitled to dispose of the disputed right. 5.   If the parties to a dispute agree to refer the dispute to arbitration, no suit may be filed before the courts. Notwithstanding the foregoing, if one of the parties files a suit, irrespective of the arbitration provision, and the other party does not object to such filing at the first hearing, the suit may be considered, and in such case, the arbitration provision shall be deemed cancelled. Article (204) 1.     If a dispute arises between the parties prior to the execution of an agreement between them to refer the same to arbitration, or if one or more of the nominated arbitrators refuses to act as such, withdraws, is dismissed, has his appointment revoked, or is prevented from acting due to an encumbrance, and no agreement exists between the parties in this respect, the court which has jurisdiction to consider the dispute shall appoint the necessary number of arbitrators at the request of one of the parties filed in the normal procedure for filing a suit. The number of arbitrators appointed by the court shall be equal, or complementary, to the number agreed between the parties to the dispute. 2.     The court's decision in respect of the foregoing may not be contested in any way whatsoever. Article (205) 1.     Unless their names are specifically mentioned in the arbitration agreement or a subsequent document, arbitrators may not be authorized to act as amiable compositors. Article (206) 1.     An arbitrator may not be a minor, bankrupt, legally incapacitated or deprived of his civil rights due to a criminal offence unless he has been rehabilitated. 2.     If there are more than one arbitrators, the number shall, at all times be odd. Article (207) 1.     The acceptance of the appointment of an arbitrator shall be in writing or may be evidenced by recording the same in the minutes of the sessions. 2.     If an arbitrator, after having accepted his appointment, withdraws without good reason, he may be held liable for compensation. 3.     No arbitrator may be removed except with the approval of all the parties to the dispute. However, if it is established that the arbitrator has willfully neglected to act in accordance with the terms of reference, despite a written notice to him in this respect, the court which had jurisdiction to consider the dispute may, at the request of one of the parties, dismiss the arbitrator and order a replacement in the same manner as he was originally appointed. 4.     An arbitrator may not be disqualified except for reasons occurring or appearing after his appointment. A request for disqualification must be based on the same grounds on which a judge may be dismissed or deemed unfit for passing judgement. The request for disqualification shall be filed with the court which has jurisdiction to consider the dispute within five days from notifying the parties of the appointment of the arbitrator or from the date on which the reason for disqualification arose or from the time it became known if subsequent to the notification of the appointment of the arbitrator. In all events, the request for disqualification shall not be granted if the court has already passed a judgement or if the hearing of pleadings has been concluded. Article (208) 1.     Within a maximum period of thirty days from the acceptance of his appointment, the arbitrator shall, without the need to comply with the rules provided under this Law in respect of serving of notices, notify the parties to the dispute of the date of the first hearing scheduled for consideration of the dispute and the venue thereof. The arbitrator shall fix a date for the parties to the dispute to submit their documents, memoranda and pleadings. 2.     A decision may be issued on the basis of the documents submitted by only one of the parties to the dispute if the other party fails to submit his documents within the time specified. 3.     If there shall be more than one arbitrator, they shall jointly conduct the investigation and each of them shall sign the minutes of sessions. Article (209) 1.     The hearing of a dispute before the arbitrator shall terminate if a reason for such termination, as stipulated under this Law, exists. Unless the matter has been reserved for award, such termination shall have the legal effects stipulated under the law. 2.     If, during the course of arbitration, a preliminary issue, which is outside the powers of the arbitrator, arises or if a challenge has been filed that a document has been counterfeited, or if criminal proceedings have been taken regarding such counterfeiting or for any other criminal act, the arbitrator shall suspend the proceedings until a final judgement on the same has been passed. In addition, the arbitrator shall suspend the proceedings to refer to the President of the competent court the following: a.     To pass a judgement in accordance with the law to penalize any witness who fails to appear or refuses to give statement. b.     To order a party to submit any documents in its possession which are necessary for the issue of the arbitration award. c.     To decide on evidence by commission. Article (210) 1.     If the parties to the dispute did not specify in the arbitration agreement a date for the issue of the award, the arbitrator shall pass his award within six months from the date of the first arbitration session; otherwise any of the parties shall be entitled to refer the dispute to the court or, if a suit has already been filed, to proceed with the same before the court. 2.     The parties to the dispute may, expressly or impliedly, agree to extend the date fixed by agreement or under the law and may authorize the arbitrator to extend the same for a specified period. The court may, at the request of the arbitrator or one of the parties, extend the period specified under the above paragraph for such a period, as the court may deem sufficient to decide on the dispute. 3.     The period specified as aforesaid shall cease to run whenever the arbitration is discontinued or terminated before the arbitrator and shall recommence from the date on which the arbitrators are notified of the removal of the reason for which the dispute was discontinued or terminated. If the remaining period is less than a month, it shall be extended to one full month. Article (211) 1.     The arbitrators shall cause the witnesses to take oath. Whoever makes a false statement before the arbitrators shall be deemed to have committed the crime of perjury. Article (212) 1.     The arbitrator shall issue his award without being bound by any procedures other than those stipulated in this Chapter and those pertaining to calling of the parties, hearing of their pleas and enabling them to submit their documents. Notwithstanding the foregoing, the parties to the dispute may agree on certain procedures to be followed by the arbitrator. 2.     The arbitrators award shall be in conformity with the provisions of law unless the arbitrator was authorized to reconcile the dispute, in which event he shall not be bound to comply with such rules except in matters which concern public order. 3.     The special rules pertaining to immediate enforcement shall apply to arbitration awards. 4.     The arbitrators' award shall be issued within the United Arab Emirates; otherwise, the rules applicable to arbitration awards passed in foreign countries shall apply thereto. 5.     The arbitrators' award shall be passed by a majority and shall be made in writing and accompanied by the dissenting vote. In particular, the award shall contain a copy of the arbitration agreement, a summary of the statements of the parties, their documents, the grounds and context of the award, the date and place of issue and the signatures of the arbitrators. Should one or more arbitrators refuse to sign the award, such refusal shall be stated in the award; provided, however, that the award shall be valid if signed by a majority of the arbitrators. 6.     Unless otherwise agreed between the parties to the dispute, the award shall be in the Arabic language; otherwise, the award shall, at the time of filing, be accompanied by a legalized translation thereof. 7.     The award shall be deemed to have been issued from the date of signing the same by the arbitrators. Article (213) 1.     When arbitration is conducted through court, the arbitrators shall, within fifteen days following the issue of their award, file with the competent court the award together with the original terms of reference, minutes of sessions and documents. They shall also file with the court a copy of the award to be delivered to each of the parties within five days from the date of filing of the original copy thereof. The court clerk shall prepare a report on the said filing to be submitted to the judge or the head of the department, as the case may be, so as a hearing may be convened within fifteen days for the purpose of approving the award. The parties of the dispute shall be notified of the date fixed for the hearing as aforesaid. 2.     Where the arbitration is conducted in connection with an appeal suit, the filing shall be made with the court, which has jurisdiction to consider the appeal. 3.     Where arbitration is conducted between the parties to a dispute outside the court, the arbitrators shall provide each party with a copy of their award within five days from the date of the issue of the same. The court shall, at the request of one of the parties filed within the normal course of filing the suit, consider whether the award shall be approved or nullified. Article (214) 1.     While considering the request for approving the arbitrators' award, the court may refer the same back to the arbitrators to reconsider any issues which they have omitted or to clarify the award if it was not specific to the extent that the enforcement of the same is not possible. Unless otherwise decided by the court, the arbitrators shall, in both cases, issue their revised award within three months from the date of their notification of the court's decision. 2.     The decision of the court may not be contested except upon the passing of the final judgment in respect of the approving or nullifying of the award. Article (215) 1.     The arbitrators' award may not be enforced unless the same has been approved by the court with which the award was filed; provided that the court has reviewed the award and the terms of reference and ensured that there is no encumbrance to such enforcement. The said court shall, at the request of one of the parties concerned, correct the material errors in the arbitrator’s award in accordance with the legally prescribed manners applicable to correction of errors. 2.     The Execution Judge has the jurisdiction to all the matetrs related to the execution of the arbitrators’ awards. Article (216) 1.     The parties to a dispute may, at the time of consideration of the arbitrators award, request the nullification of the same in the following events: a.     If the award was issued without, or was based on invalid terms of reference or an agreement which has expired by time prescription, or if the arbitrator has exceeded his limits under the terms of reference. b.     If the award was issued by arbitrators who were not appointed in accordance with the law, or by only a number of the arbitrators who were not authorized to issue the award in the absence of the others, or if it was based on terms of reference in which the dispute was not specified, or if it was issued by a person who is not competent to act as an arbitrator or by an arbitrator who does not satisfy the legal requirements. c.     If the award of the arbitrators or the arbitration proceedings become void and such voidness affected the award. 2.     A request for nullification of the award shall not be rejected on the grounds of a waiver by a party of its right to the same prior to the issue of the award. Article (217) 1.     The award of the arbitrators may not be contested by any manner of appeal. 2.     The judgement approving the arbitrators' award may be contested in any of the appropriate manners of appeal. 3.     Notwithstanding the preceding paragraph, the award shall not be appealable if the arbitrators were authorized to reconcile the dispute or, if the parties have expressly waived their rights to file an appeal or if the disputed amount was not in excess of Dirhams ten thousand. Article (218) 1.     The arbitrators shall estimate their fees and arbitration expenses and may decide that such amount, in whole or in part, be borne by the party against whom the award was issued. The court may, at the request of one of the parties, amend the said estimation taking into account the efforts of the arbitrators and the nature of the dispute. Local Laws Concerning Arbitration 1.     Arbitration in disputes arising out of contracts to which Dubai Government or any of its subsidiary departments is a party. 2.     Agreements and Conventions relating to Arbitration to which UAE is a party. 3.     Agreement for Judicial Cooperation and Recognition and Execution of Arbitral Award in Civil and Commercial Matters between UAE and France, 1991.  4.     Agreement of Encouragement and Protection of Investment between the members of the Organization of the Islamic Conference (Chapter (2) concerning Arbitration).
	The UAE Civil Procedure Code, Federal Law No. (11) of 1992 Chapter (IV) "Execution of Foreign Judgments" Article (235) 1.     Judgments and orders passed in a foreign country may be ordered for execution and implementation within UAE under the same conditions provided for in the law of foreign state for the execution of judgments and orders passed in the state. 2.     Petition for execution order shall be filed before the Court of First Instance under which jurisdiction execution is sought under lawsuit filing standard procedures. Execution may not be ordered unless the following was verified:- a.     State courts have no jurisdiction over the dispute on which the judgment or the order was passed and that the issuing foreign courts have such jurisdiction in accordance with the International Judicial Jurisdiction Rules decided in its applicable law. b.     Judgment or order was passed by the competent court according to the law of the country in which it was passed. c.     Adversaries in the lawsuit on which the foreign judgment was passed were summoned and duly represented. d.     Judgment or order had obtained the absolute degree in accordance with law of the issuing court. e.     It does not conflict or contradict with a judgment or order previously passed by another court in the State and does not include any violation of moral code or public order. Article (236) 1.     Provisions of the preceding Article shall apply to the arbitration decision passed in foreign countries. Arbitration decisions must be passed on a matter which may be decided on by arbitration according to the law of the country and must be enforceable in the country it was passed in. Article (237) 1.     Attested documents and conciliation reports authenticated by Courts in foreign countries may be ordered to be executed in the State under the same conditions provided for the execution of similar orders and reports passed in the UAE as stated in the law of the foreign country. 2.     Execution order referred to in the preceding para shall be requested vide a petition filed with the execution judge. Execution order may not be passed unless the conditions for the implementation of such document or report were verified to have been met in accordance with the laws of the country in which it was attested or authenticated and after verifying it to be free from anything in violation of moral code or public order. Article (238) 1.     Rules provided for in the preceding Articles do not prejudice rules and regulations provided for in conventions signed between the UAE and other countries in this respect.

The UAE Civil Procedure Code, Federal Law No. (11) of 1992
Chapter (V)

"Execution procedures"

Article (239)

1.     Execution must be preceded by the announcement of the writ of execution in accordance with announcement procedures determined herein.

2.     Announcement paper shall include a statement of the required debt and an assignment to the debtor to settle it within fifteen days as of its notification of the same. Announcement shall also include the execution petitioner selected address within the execution court jurisdiction if its original address or place of business was not within such jurisdiction.

3.     If writ of execution was issued by virtue of a documentary credit opening contract, announcement shall also include a statement of the debtor’s account extracted from the creditor’s trade boards.

4.     In case of execution by evacuation of real property or handing over of movable monies or real property, the announcement of the writ of execution shall include a detailed statement of such monies.

5.     If the writ of execution specified the evacuation or handing over date, the announcement shall include the same.

Article (240)

1.     If the debtor expressed its desire to the execution commissioner upon the announcement of the writ of execution or at any stage of the procedures, to settle the debt against which execution effected in full or part, the execution commissioner shall record the same in the report and assign the debtor to deposit the offered amount with the court treasury in favour of the execution petitioner. Deposit shall be made on the same day or not later than the next day.

2.     If the offered amount was part of the debt, execution commissioner shall continue with the execution in respect of the remaining balance.

Article (241)

1.     Execution commissioner may not break doors or locks by force for effecting execution unless under the approval of the execution judge and in presence of a policeman whose signature shall appear on the execution report.

Article (242)

1.     In case of the debtor’s death or if it became incapacitated or the capacity of the person acting on behalf of the debtor was removed before commencement of execution or before completion thereof, execution may not be effected against its heirs or successors except after the lapse of eight days after the date on which they were notified of the writ of execution.

2.     In case of the debtor’s death or if it became incapacitated or the capacity of the person acting on behalf of the debtor was removed after commencement of execution, execution procedures and all other appointments there under shall stop until expedited by either parties.

3.     Announcement referred to in the preceding paras, may be notified to the heirs collectively at the last address in which the debtor was residing without stating their names and capacities, before the lapse of three months after the date of death.

Article (243)

1.     Third parties may not carry out or be forced to carry out actions required under writ of execution unless the debtor was notified of the intention to do so before eight days at least.