Cabinet Resolution No. 12 of 2000 · UAE Federal
Cabinet regulations on the listing of securities and commodities on licensed markets, now listed by the CMA among superseded regulations.
Cabinet Resolution No. 12 of 2000 contained the original UAE regulations on listing securities and commodities on licensed markets. Made under Federal Law No. 4 of 2000, it was issued on 3 July 2000 and took effect on publication in the Official Gazette (Article 23). The CMA now lists it among superseded regulations; it is no longer the operative listing rulebook. The current rules on registering securities for listing are in CMA Decision No. 5/Chairman of 2023, and offering and listing are governed by Federal Decree-Law No. 33 of 2025 from 1 January 2026.
Its main rules were: no securities could be listed without the Authority's prior approval (Article 2), and trading was restricted to listed securities through registered brokers (Article 3). Every public joint stock company incorporated in the UAE had to apply to list, with companies wholly owned by federal or emirate governments exempt (Article 5). Article 6 split listed companies into two categories; the first required two years of audited accounts, paid-up capital of at least AED 25 million or 35% of subscribed capital, equal rights within each share class and equity not below paid-up capital. Applications were examined by a committee within fifteen days and decided by the Board within thirty (Articles 12 and 13). Directors and staff could not deal in their company's shares without prior disclosure through the market and the market director's approval (Article 17). Listed companies had continuing duties to report price-sensitive developments, board holdings, periodic accounts and holdings of 5% or more (Article 19). Listing could be suspended, for example where equity fell below 50% of capital (Article 20), and cancelled after six months' suspension, liquidation, merger or a radical change of activity (Article 22).
Historically: UAE public joint stock companies and other issuers seeking or holding a listing on UAE securities markets, their directors and employees, and the markets. It is now relevant only to historic listings and documents.
English official text in 23 articles. Open the full text or jump to a provision:
| Article 2 | No securities could be listed on a market without the Authority's prior approval. |
| Article 5 | All UAE-incorporated public joint stock companies had to apply to list their shares, failing which their activities could be suspended; companies wholly owned by federal or emirate governments were exempt. |
| Article 6 | First-category listing conditions: two years and two audited balance sheets, paid-up capital of at least AED 25 million or 35% of subscribed capital, equal class rights and equity at least equal to paid-up capital. |
| Article 17 | Directors, the general manager and employees could not deal in the company's securities before disclosing the trade through the market and obtaining the market director's approval. |
| Article 19 | Listed issuers had to report price-sensitive developments, board holdings within 15 days and at year end, board changes, periodic reports and any holding reaching 5% or more. |
| Article 22 | Listing could be cancelled on liquidation, suspension of six months or more, radical change of activity, merger ending legal personality or cessation of activity. |
We refer to this resolution when reviewing older articles of association, prospectuses and shareholder records of companies listed in the early 2000s, which often mirror its categories and disclosure duties. For a current listing or offering we work from CMA Decision No. 5/Chairman of 2023, the offering regulations and Federal Decree-Law No. 33 of 2025, coordinating with the issuer's licensed advisers.
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
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Capital Markets Law
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Former SCA Law
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Public Offering of Shares Regulations
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Former Disclosure and Transparency Regulations
Board regulations on disclosure and transparency for listed companies and insiders, amended many times and now listed by the CMA among superseded regulations.
Gold Trust Certificate Recognition
Recognises the “Trust Certificate – Gold Product” as a foreign security that may be listed and traded on the financial markets licensed in the State.
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