His Majesty Sultan Qaboos bin Said has issued, yesterday, a Royal Decree No. 30/2015 establishing Oman Governance and Sustainability Centre and promulgating its law

 

We Qaboos bin Said Sultan of Oman

 

After perusal of the Basic Law of the State promulgated by Royal Decree No. 101/2015, the Capital Market Law promulgated by Royal Decree No. 80/98;

In the interest of the public

 

Have decreed the following:

 

Article (1): A centre  to be named “Oman Governance and Sustainability Centre” shall be establishing reporting to the Capital Market Authority and shall be governed by the provisions of the attached law.

 

Article (2):  The Centre shall have juristic personality, financial and administrative independence and the capacity to own fixes and moveable funds, management and disposal of the same and its place of business shall be in the Governorate of Muscat and may establish branches in the governorate.

 

Article(3): All the assets and funds of Oman Corporate Governance and Sustainability Centre of the Capital Market Authority  shall devolve to the Centre and all employees shall be transferred  on their financial grades and employment statuses.

 

Devolvement shall be according to the mechanism agreed between the Executive President of the Capital Market Authority and the Executive Director of the Centre.

 

Article (4): The Chairman of the Board of Directors of Oman Governance and Sustainability Centre shall issue the decisions and regulations required to enforce the  attached law after approval of the Board of Directors of the Centre. Until such decisions and regulations are issued the Centre shall be governed by the laws and regulations governing the Capital Mark Authority in any matter which is not covered by special provision in the attached law to the extent not contradicting its provisions.

 

Article (5): Anything infringing this Decree or contradicting its provisions shall be repealed.

 

Article (6):  This Decree shall be published in the Official Gazette and shall come into force on the day following the date of publication.

 

Issued on: 27 Ramdhan 1436 H corresponding to 14 July 2015