His Majesty Sultan Qaboos bin Said has issued a Royal Decree promulgating amendments to the Insurance Companies Law as follows:

 

Royal Decree No. 39/2014

Promulgating Amendments to Certain Provisions of the Insurance Companies Law

 

Qaboos bin Said, Sultan of Oman

 

After perusal of the Basic Law of the State promulgated by Royal Decree No. 101/96; and

 

The Insurance Companies Law promulgated by Royal Decree NO.  12/79; and

 

Royal Decree No. 90/2004 transferring the insurance jurisdiction from the Ministry of Commerce and Industry to the Capital Market Authority;

 

After presentation to the Oman Council;

 

In the interest of the public

 Have decreed the following

 

Article (1):

 

The attached  amendments to the Insurance Companies Law shall be applicable.

 

Article (2):

 

This Decree shall be published in the Official Gazette.

 

Issued on: 12 August 2014