Law no. (5) of 1996 concerning Al Ain Farms for Livestock Production

Article-level navigation isn't available for this document — showing the full text as extracted.

Law no. (5) of 1996 concerning Al Ain Farms for
Livestock Production
We, Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi
Having reviewed:
• Law No. (1) of 1974 concerning the reorganisation of the Governmental
Body in the Emirate of Abu Dhabi and its amendments;
• Law no. (2) of 1971 concerning the National Advisory Council, and its
amendments;
• Law no. (5) of 1996 concerning Al Ain Farms for Livestock Production,
and its amendments;
• Law no. (10) of 1999 concerning the establishment of Abu Dhabi Fund for
Development, and its amendments; and
• Based on what was presented to and approved by the Executive Council;
Issued the following Law:
Article (1)
Article (2) of aforementioned Law no. (5) of 1996 shall be replaced by the
following provisions:
“The capital of the Farms is set at (AED 510,204,000), divided into
(5,102,040) shares and the value of each share is (AED 100). The ownership
of the shares of the capital of the Farms shall be distributed as follows:
1. (611,375) shares to Abu Dhabi Fund for Development
2. (1,363,622) shares distributed as grants to the beneficiaries of social
welfare services in the Emirate of Abu Dhabi; (179) shares per case.
3. (525,002) shares for their Highnesses, heirs of the late Sheikh Zayed Bin
Sultan Al Nahyan.
4. (2,602,041) shares for WAS Commercial Investment Company (LLC),
equal to AED (260,204,100) of the capital of the Farms, provided that
said amount is paid to the Farms by virtue of an agreement between the
Company and the Board of Directors of the Farms”.

-- 6 of 26 --

6
Article 2
Any provision contrary to the provisions of this Law shall be repealed.
Article 3
This Law shall be published in the Official Gazette and become effective
from the date of its issuance.
Issued by us in Abu Dhabi
On: 13 January 2021
Corresponding to: 29 Jumada Al Owla 1442 Hijri
Khalifa bin Zayed Al Nahyan
Ruler of Abu Dhabi

-- 7 of 26 --

7
Decrees
Decrees

-- 8 of 26 --

-- 9 of 26 --

9