Learn more on the latest UAE Law updates from skilled legal consultants
MIO legal consultants are one of the best teams out there to help you achieve legal respite with much ease and in keeping with the latest UAE Law updates. The most recent updates on UAE Law have new and reiterated principles in the area of litigation banking, retail banking, company law, construction and insurance.
These new updates are all an indication and proof of the government wanting to strengthen the economy and society.
UAE Law updates are designed and established to ensure the interests of local people are protected while increased profitable opportunities make the government and its people stronger and less dependent or subject to any loss caused by poor legal structures.
MIO is a very popular and well known Dubai law firm. We have a strong team of skilled legal consultants to handle all aspects of legal affairs on UAE Law.
What Are The Latest UAE Law Updates?
Some of the recent law updates include, but are not limited to, the following specified below:
• The judiciary updates asked for a constitutional amendment that demanded complete autonomy of the judicial department. This will mean greater power for the judges legally and is aimed at achieving greater financial independence. This UAE law update contains 135 articles and all are directed towards financial and administrative independence of the judges and also to have the Federal judiciary council be led by a judge instead of a ministry.
• In Litigation, the legal consultants saw that the new UAE law updates had two primary changes. One in personal financial banking and the other in insurance. In the former law update it was said that now the bank can deduct up to 50% of salary wages if there are any outstanding payments due. This new principle overrides the old one as per Article No 247 of the Code of Civil Procedures. In insurance, the Dubai Court of Cassation has ordered that insurance companies pay 20000 dirham’s in blood money towards heirs of a traffic accident victim.
• Retail banking saw a change in UAE Law that disallowed banks from demanding blank cheques towards security at the time of applying for loans, credit cards etc. Though this was a ruling passed last year in May 2011, it was still being unlawfully practiced by many financial institutions and in this latest UAE Law update; the government reiterates its importance.
• Legal consultants also noted that the latest law updates include new features with regards to commercial sector and companies. The new company laws place a large amount of emphasis on illegal employment under incorrect work permits. 4 companies have already been referred to Dubai public persecution for unlawful employment. It is being said that the companies in question are facing fines of up to 50000 dirhams.
• Construction and real estate is yet another sector that has been included in the latest UAE law updates. Now appropriate steps are being taken to ensure and facilitate payments made to contractors who are owed money. In real estate fines of up to 900000 dirhams are being issued to estate and brokerage firms violating the RERA regulations.
To ensure your practices remain law abiding and efficient, speak to the MIO legal consultants who will help you protect your interests in the best possible way, while also guiding you towards making the right legal choices for your business.
For more on this kindly do speak to MIO Law firm, Abu Dhabi (Head Office), Suite 302-303, Al Fardan Tower, Hamdan Street, PO Box 46385, Abu Dhabi, UAE.
MIO legal consultants are one of the best teams out there to help you achieve legal respite with much ease and in keeping with the latest UAE Law updates. The most recent updates on UAE Law have new and reiterated principles in the area of litigation banking, retail banking, company law, construction and insurance.
These new updates are all an indication and proof of the government wanting to strengthen the economy and society.
UAE Law updates are designed and established to ensure the interests of local people are protected while increased profitable opportunities make the government and its people stronger and less dependent or subject to any loss caused by poor legal structures.
MIO is a very popular and well known Dubai law firm. We have a strong team of skilled legal consultants to handle all aspects of legal affairs on UAE Law.
What Are The Latest UAE Law Updates?
Some of the recent law updates include, but are not limited to, the following specified below:
• The judiciary updates asked for a constitutional amendment that demanded complete autonomy of the judicial department. This will mean greater power for the judges legally and is aimed at achieving greater financial independence. This UAE law update contains 135 articles and all are directed towards financial and administrative independence of the judges and also to have the Federal judiciary council be led by a judge instead of a ministry.
• In Litigation, the legal consultants saw that the new UAE law updates had two primary changes. One in personal financial banking and the other in insurance. In the former law update it was said that now the bank can deduct up to 50% of salary wages if there are any outstanding payments due. This new principle overrides the old one as per Article No 247 of the Code of Civil Procedures. In insurance, the Dubai Court of Cassation has ordered that insurance companies pay 20000 dirham’s in blood money towards heirs of a traffic accident victim.
• Retail banking saw a change in UAE Law that disallowed banks from demanding blank cheques towards security at the time of applying for loans, credit cards etc. Though this was a ruling passed last year in May 2011, it was still being unlawfully practiced by many financial institutions and in this latest UAE Law update; the government reiterates its importance.
• Legal consultants also noted that the latest law updates include new features with regards to commercial sector and companies. The new company laws place a large amount of emphasis on illegal employment under incorrect work permits. 4 companies have already been referred to Dubai public persecution for unlawful employment. It is being said that the companies in question are facing fines of up to 50000 dirhams.
• Construction and real estate is yet another sector that has been included in the latest UAE law updates. Now appropriate steps are being taken to ensure and facilitate payments made to contractors who are owed money. In real estate fines of up to 900000 dirhams are being issued to estate and brokerage firms violating the RERA regulations.
To ensure your practices remain law abiding and efficient, speak to the MIO legal consultants who will help you protect your interests in the best possible way, while also guiding you towards making the right legal choices for your business.
For more on this kindly do speak to MIO Law firm, Abu Dhabi (Head Office), Suite 302-303, Al Fardan Tower, Hamdan Street, PO Box 46385, Abu Dhabi, UAE.
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