Law No. (11) of 2005 concerning commercial buildings finance, as amended by Law No. (16) of 2007; • Chairman of Executive Council Resolution No. (24) of 2005 concerning the issuance of the Implementing

Law No. (11) of 2005 concerning commercial buildings finance, as amended
by Law No. (16) of 2007;
•
Chairman of Executive Council Resolution No. (24) of 2005 concerning the
issuance of the Implementing Regulations of Law No. (11) of 2005 on
commercial buildings finance and its amending resolutions; and,
•
Based on what was presented to and approved by the Executive Council, •
Issued the following Resolution:
Article (1)
Article (11) of the aforesaid Chairman of the Executive Council Resolution
No. (24) of 2005, shall be replaced by the following:
The Department of Finance shall, after the issuance of approval of finance
by the Executive Council, monitor the necessary funds and oversee the
financing and management of loans granted by the Emirate, while
calculating and collecting administrative fees of 1% for the service thereof,
of any value.
•
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Having reviewed:

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Issued by us in Abu Dhabi
On: 19 April 2015
Corresponding to: 30 Jumada Al Akhar 1436 H
Mohamed bin Zayed Al Nahyan
Crown Prince
Chairman of the Executive Council
This Resolution shall enter into effect and the rate of administrative fees set
forth in the precedent clause of this Article shall apply on the outstanding
balances of loans as on 03/04/2014, regardless of the value of the loans
or the date of approval thereof.
•
The rate of administrative fees may be changed by an Executive Council
Resolution, upon the suggestion of the Department of Finance.
•
Article (2)
Any text or provision contrary to the provisions of this resolution shall be
repealed.
Article (3)
This Resolution shall be effective from the date of its issuance and published
in the Official Gazette.
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