Law No. (12) of 2020 Amending Some of the Provisions of Law No. 4 of 2013 Concerning the Abu Dhabi Global Market

المادة 6 — /Sub-Paragraphs 4 and 5) ¶

4. Form from amongst its members one or more committees. form advisory committees of local and
international experts for the Global Market to enable it to achieve its objectives.
5. Establish the needed administrative bodies, sole establishments, bureaus, and councils for the realization of
the objectives of the Global Market, specify their powers and duties, and to cancel, merge and restructure any

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of them. Also, to establish, own and participate in companies for the Global Market and any of the Global
Market Authorities within or outside the Global Market and to co-ordinate between the Global Market
Authorities.
Article (6/Second Paragraph)
The Board of Directors may delegate any of its competencies provided for in this law or any of the Global
Market Regulations to any of its committees, employees or to any of the Global Market Authorities or their
employees. The Board of Directors may delegate any of its functions or competencies to any governmental
entity in the Emirate or State

المادة 11 — /Fourth Paragraph) ¶

-Subject to the provisions of this law and the Global Market Regulations, the Global Market Registration
Bureau may after obtaining the approval of the Board of Directors delegate any of its duties and powers to any
governmental entity in the Emirate or State or to any of the other Global Market Authorities, excluding the
Global Market Courts, and may after obtaining the approval of the Board of Directors accept a delegation of
duties or powers from any governmental entity in the Emirate or State or duties or powers delegated to it by
any of the other Global Market Authorities, excluding the Global Market Courts.

المادة 12 — السطر الثاني ¶

يجب أن يكون لدى إدارة القوانين المالية رئيس أو مجلس إدارة يمثله أمام المحاكم والجهات الخارجية. ويجب أن يتم تعيين الرئيس أو مجلس الإدارة من قرار مجلس الإدارة، وينص هذا القرار أيضًا على مكافأتهم.
المادة (12/الquatrain/الفقرات 2، 10، 11)
2. التحكم والرقابة على المؤسسات المالية العالمية المرخصة، وتحديد المخالفات وتحديد العقوبات والإجراءات الإدارية وفقًا للقوانين والأنظمة الخاصة بالسوق العالمي.
10. إبرام العقود والاتفاقيات، وشراء وملك الأصول المتعلقة بإدارة القوانين المالية وبيعها وفقًا للأنظمة الخاصة بالسوق العالمي.
11. إنشاء الأقسام والوحدات المرتبطة بإدارة القوانين المالية، وتحديد مهامها وتفويضها أي من الصلاحيات الممنوحة لإدارة القوانين المالية وفقًا للأنظمة الخاصة بالسوق العالمي.
المادة (12/السادس)
- وبشرط توافقها على نصوص هذه القوانين والأنظمة الخاصة بالسوق العالمي، يمكن للرئيس أو مجلس إدارة إدارة القوانين المالية، حسب الأحوال، بعد الحصول على موافقة مجلس الإدارة، أن يفوض أي من مهامه وصلاحياته إلى أي جهة حكومية في الدولة أو الإمارة أو إلى أي من الجهات الأخرى في السوق العالمي، مع استثناء المحاكم الخاصة بالسوق العالمي، ويمكن بعد الحصول على موافقة مجلس الإدارة أن يستقبل من أي جهة حكومية في الدولة أو الإمارة أو من أي من الجهات الأخرى في السوق العالمي، مع استثناء المحاكم الخاصة بالسوق العالمي، فوضاءً لأي مهام أو صلاحيات.

المادة 13 — The Global Market’s Courts: ¶

1. The Global Market’s Courts shall be of two degrees, first instance (formed of a single judge) and appeal
(formed of three judges). Without prejudice to the provisions of this law and the Global Market Regulations,

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the Global Market’s Courts shall be considered as courts of the Emirate, with jurisdiction over disputes and
matters in accordance with the provisions of this law and the Global Market Regulations.
2. The judgments made by the Global Market’s Courts shall be issued in the name of the Ruler of Abu Dhabi.
3. The Global Market’s Courts shall have a Chief Justice who shall represent it before third parties, and shall
be appointed and his remuneration determined by a Board of Directors resolution which shall become effective
upon the expiry of 15 days of notifying the Chairman of the Judicial Department of Abu Dhabi of such
resolution and receiving no objections thereto.
4. The judges of the Global Market’s Courts shall be appointed by resolutions issued by the Board of Directors
based on the proposal of the Chief Justice of the Global Market’s Courts.
5. The management of the Global Market’s Courts, and the procedures for the litigation and judgments and
any other mechanisms of dispute resolution procedures shall be determined by regulations issued by the Board
of Directors
6. The Chief Justice of the Global Market’s Courts shall have the following duties and powers:
a) Propose draft Global Market’s Regulations related to regulations of the Global Market’s Courts and submit
the same to the Board of Directors for approval.
b) Prepare and approve strategies, policies and objectives of the Global Market’s Courts, prepare the necessary
reports on the implementation of these strategies, policies and objectives and present the same to the Board of
Directors.
c) Propose fees and financial considerations for services rendered by the Global Market’s Courts and present
the same to the Board of Directors for approval.
d) Prepare the draft annual budget for the Global Market’s Courts and submit the same to the Board of Directors
for approval in preparation for submission to the Executive Council for endorsement.
e) Review and approve the financial statements and accounts of the Global Market’s Courts and submit the
same to the Board of Directors for approval.
f) Open, operate and manage bank accounts of the Global Market’s Courts in accordance with the approved
competencies by the Board of Directors.
g) The appointment and seek assistance of whomsoever is deemed appropriate to assist the Global Market’s
Courts in exercising its competencies and functions.
h) Issue the Executive Decisions required to carry out any of the above duties and powers.
7. The Court of First Instance and shall have exclusive jurisdiction to consider and decide on matters according
to the following:
a) Civil or commercial claims and disputes involving the Global Market or any of the Global Market
Authorities or any of the Global Market Establishments;
b) Civil or commercial claims and disputes arising out of or relating to a contract entered into, executed or
performed in whole or in part in the Global Market, or a transaction entered into or performed in whole or in
part in the Global Market, or to an incident that occurred in whole or in part in the Global Market;
c) Any appeal against a decision or a procedure issued by any of the Global Market Authorities according to
the Global Market Regulations;

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d) Any request, claim or dispute which the Global Market’s Courts has the jurisdiction to consider under the
Global Market Regulations;
e) Any issues concerning the interpretation of any articles of the Global Market Regulations.
8. The Global Market’s Courts may hear and adjudicate any civil or commercial claim or dispute where the
parties agree in writing to file such claim or dispute with them whether before or after the claim or dispute
arises.
9. Notwithstanding the provisions of paragraph (7) of this Article, the parties may agree to refer their claims
or disputes to arbitration, or, in relation to the issues specified in sub-paragraphs 7(a) and (b), may agree in
their commercial contracts and transactions to submit to the jurisdiction of any other court other than the Global
Market’s Court of First Instance.
10. The Court of Appeal shall have exclusive jurisdiction to consider and decide on appeals made against the
judgments or orders issued by the Court of First Instance.
11. Judgments of the Court of Appeal are final and may not be challenged by any method of appeal.
12. The Chief Justice shall deputise one or more of the Global Market’s Courts judges as execution judge. The
deputised execution judge shall have jurisdiction over the execution of the judgments and orders rendered by
the Global Market’s Courts and arbitral awards recognised by the Global Market’s Courts, and such execution
shall be in accordance with the Global Market’s Regulations.
13. Judgments and orders rendered by the Global Market’s Courts and arbitral awards recognised by the Global
Market’s Courts shall be enforced by the competent entities outside the Global Market in accordance with the
procedures and rules adopted by such entities, as well as any memoranda of understanding between the Board
of Directors or the Global Market’s Courts and those entities.
14. Paragraph 13 of this Article shall not apply to a judgment or order rendered by the Global Market’s Courts
in respect of the recognition or enforcement of:
a) a judgment or order issued by a court outside the Emirate; or
b) any arbitral award rendered by a tribunal where the seat is outside the Global Market.
15. Subject to the provisions of paragraph 13 of this Article, the following shall be taken into consideration
when judgments or orders made by the Global Market’s Courts, or arbitral awards recognised by the Global
Market’s Courts are to be enforced by the courts of the Emirate:
a) A judgment creditor may, upon direct application to any of the Emirate’s courts, request that court to take
any measure or action to enforce any judgments or orders made by the Global Market’s Courts, or arbitral
awards recognised by the Global Market’s Courts;
b) The Global Market’s Courts may, upon the application of a judgment creditor, deputise an enforcement
judge from the courts of the Emirate to take any measure or action to enforce any judgments or orders made
by the Global Market’s Courts, or arbitral awards recognised by the Global Market’s Courts;
c) The enforcement judge of the court of the Emirate shall apply the enforcement procedures set out in the
Federal Law No. (11) of 1992 referred to without re-examining the merits of the judgment, order or recognised
arbitral award.
16. Subject to the provisions of paragraph 13 of this Article, the following shall be taken into consideration
when final judgments, judgments for expedited enforcement, decisions or orders made by the courts of the
Emirate, or arbitral awards ratified by such courts, are to be enforced by the Global Market’s Courts:

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a) A judgment creditor may, upon direct application to the Global Market’s Courts, request them to take any
measure or action to enforce any final judgments, judgments for expedited enforcement, decisions or orders
made by the courts of the Emirate, or arbitral awards ratified by such courts;
b) Courts of the Emirate may, upon the application of a judgment creditor, deputise an enforcement judge of
the Global Market’s Courts to take any measure or action to enforce any final judgments, judgments for
expedited enforcement, decisions or orders made by the courts of the Emirate or arbitral awards ratified by
such courts;
c) The enforcement judge of the Global Market’s Courts shall apply the enforcement procedures set out in the
Global Market’s Courts’ procedural rules without re-examining the merits of the final judgment, judgment for
expedited enforcement, decision, order or ratified arbitral award.
17. Subject to any Regulations issued by the Board of Directors, including any provisions for the protection of
Netting Agreements, any judgments, decisions, orders or arbitral awards rendered, recognised or ratified by
courts, or by an arbitrator or arbitrators outside the Global Market shall, upon application by the concerned
party, be enforced within the Global Market in accordance with the Global Market Regulations.

المادة 14 — /(الفقرة 3) ¶

3. وفقاً للتشريعات الاتحادية، قبول الإيداعات وفتح وتشغيل حسابات بنكية من جميع الأنواع لطرف ثالث.

المادة 22 — /Sub- Paragraphs 5, 10, and 11) ¶

5. The Global Market Establishments may conduct meetings to offer, promote and market its products and
services in the Emirate. Public and private invitations and announcements shall be within and outside the
boundaries of the Global Market in accordance with the applicable legislations.
10. It shall not be permissible for any Global Market Establishment to assign any license issued to it except
with the approval of the head of the Global Market Registration Bureau or the head of the Financial Services
Regulations Bureau, as the case may be.
11. Any of the Global Market Establishments may establish a branch, company or representative office in the
Emirate without having to have a place of residence outside the Global Market.

المادة 23 ¶

• أي شخص يقوم بأي نشاط تجاري أو مالي أو نوع آخر من الأنشطة يتعارض مع نصوص هذه القوانين أو قواعد السوق العالمي قد يُعاقب بغرامة إدارية لا تتجاوز الأعلى بين (200,000,000) دينار إماراتي أي مائتين مليون دينار إماراتي أو (10%) عشرة بالمئة من قيمة المعاملة ذات الصلة.
• يجب على مجلس الإدارة إصدار قرار يحدد جدولًا للمخالفات والغرامات والعقوبات الإدارية المطبقة، مع التأكيد أن هذه الغرامات لا تتجاوز الحد الأقصى المحدد في الفقرة السابقة من هذا المادّة.
• يُمنح مجلس السوق العالمي الصلاحية لتنفيذ الغرامات والعقوبات الإدارية المحددة.
المادة الثالثة
يجب على الأشخاص الذين منحهم وزارة التنمية الاقتصادية حقًا بالعمل في منطقة الجغرافية للسوق العالمي قبل تطبيق نصوص هذه القوانين الحصول على الترخيص أو التصريح أو التسجيل اللازم من مجلس السوق العالمي إلا إذا كانوا مُستثنين وفقًا لقواعد السوق العالمي أو بقرار من مجلس الإدارة.
المادة الرابعة
يُلغى أي نص أو مادة تتعارض أو تتعارض مع نصوص هذه القوانين.
المادة الخامسة
يُنشر هذا القانون في الجريدة الرسمية ويُطبق من تاريخ نشره.
خليفة بن زايد آل نهيان
الرئيس، أبوظبي.
أصدرته في أبوظبي
التاريخ: 23 - أبريل - 2020
المقابل: 29 - شعبان - 1441 هـ