Executive Council Resolution No. (145) of 2020 Concerning the Emirates Nuclear Energy Corporation

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Executive Council Resolution No. (145) of 2020
Concerning the Emirates Nuclear Energy Corporation
The Executive Council has decided the following:
1. The Emirates Nuclear Energy Corporation shall be considered as a
development entity pursuant to Law No. 2 of 2018 concerning the
establishment of Abu Dhabi Developmental Holding Company.
2. The transfer of the ownership of the whole capital of the Emirates Nuclear
Energy Corporation from the Government of Abu Dhabi to Abu Dhabi
Developmental Holding Company, shall not prejudice the following:
• Licences, permits, exemptions or approvals issued by the Federal or
local government entities in the State to the Corporation or any of its
subsidiaries. Such licences, permits, exemptions and approvals shall
remain in force.
• Rights and obligations of the Emirates Nuclear Energy Corporation
or any of its subsidiaries, as indicated in any valid legislations or any
agreements or contracts or documents concluded by the Corporation
or any of its subsidiaries.
• Obligations of the Government of Abu Dhabi before the issuance of this
Resolution according to the agreements or contracts or documents
signed by the Government with third parties. This shall include any
guarantees submitted by the Government in relation with the obligations
of the Emirates Nuclear Energy Corporation or any of its subsidiaries.
3. The Department of Finance shall issue a letter to confirm any guarantees
issued concerning the obligations of the Emirates Nuclear Energy
Corporation or any of its subsidiaries as deemed necessary to obtain any
approvals or permits required for the implementation of the provisions of
this Resolution.
4. Without prejudice to the obligations of the Emirates Nuclear Energy
Corporation, Abu Dhabi Developmental Holding Company may convert
the Emirates Nuclear Energy Corporation to a Public Joint Stock Company
wholly owned thereby or by any of its wholly-owned subsidiaries.
5. This Resolution shall be implemented from the date of its issuance.
Issuance Date: 20 September 2020
Corresponding to: 03 Safar 1442 Hijri
Dr. Mohammed Rashid Al Hamli
Secretary-General

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