Law No. (7) of 2020 Amending some Provisions of Law No. (5) of 1996 Concerning Al Ain Farms for Livestock Production

Article 1 — A new Article (24 bis) shall be added to the aforesaid Law No. (5) of 1996 ¶

as follows:
• "Profits not received by their owners shall become obsolete after fifteen
years from their due date, and shall devolve to the farms' accounts to use
the same in development programmes.
• In the event where one of the shareholders dies without having an heir,
ownership of such shares shall become a charitable endowment in
accordance with the legislations in force”.

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Article 2 — Article (25) of the aforesaid Law No. (5) of 1996 shall be replaced by the ¶

following:
“The shares distributed to Nationals benefiting from social affairs services
shall be tradable according to the rules issued by the Board of Directors”.

Article 4 — This Law shall be published in the Official Gazette and shall be effective from ¶

the date of its publication.
Issued by us in Abu Dhabi
On: 17 March 2020
Corresponding to: 22 Rajab 1441 Hijri
Khalifa bin Zayed Al Nahyan
Ruler of Abu Dhabi

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