Cabinet Resolution No. (21) of 2017 Concerning the Fees for Some Services Provided by the Securities and Commodities Authority

§Preamble

Cabinet Resolution No. 21 of 2017 Concerning the Fees for Some Services Provided by the Securities and Commodities Authority The Council of Ministers, having perused -The Constitution;

-Federal Law No. (1) of 1972 concerning the Functions of Ministries and Powers of Ministers, and amendments thereof;

-Federal Law No. (4) of 2000 concerning the Emirates Securities and Commodities Authority and Market, and amendments thereof; -Federal Law No. (1) of 2011 concerning the Revenues if the State; -Federal Law No. (12) of 2014 Regulating the Profession of Auditors; -Federal Law No. (12) of 2014 concerning the Auditors Profession; -The Federal Law No. (2) of 2015 concerning Commercial Companies; -Federal Law No. (14) of 2016 concerning Violations and Administrative Penalties in the Federal Government; and -Based on the recommendation of the Minister of Finance and approval of the Cabinet, Has decided:

§Article 1 — Definitions

In the application of this Resolution, the following words and terms shall have the meanings assigned thereto herein unless the context indicates otherwise: State: The United Arab Emirates Authority/SCA: The Securities and Commodities Authority.

Auditors Register:A register where auditors of the public joint stock companies and mutual fund are recorded at the Authority.

§Article 2 — Service Fees

For the services provided by the Authority and listed in the table attached to this Resolution, the fees set forth against each service in the said table shall be collected.

§Article 3 — Administrative Penalties

The violations listed below shall be penalized by the administrative penalties set forth against each of them in the table below:

Administrative Penalty S/N Violation Description (in AED) Delay in renewing the registration of a public 1,000 per each month, 1 joint-stock company within subject to a maximum of 30 days from the 10,000 per year. registration expiry date.

Delay in publishing the amendments to the Official

1,000 per each month, Document within 30 days 2 subject to a maximum of from the date of 10,000 per year. amendment.

Delay in renewing the registration of an auditing

1,000 per each month, firm in the register of 3 subject to a maximum of auditors within 30 days 10,000 per year. from the registration expiry date.

Delay by the auditing firm to notify the Authority of changing the person in

2,000 per each month, charge of the audit of the 4 subject to a maximum of accounts of a PJS 10,000 per year. company or mutual fund within 30 days from the date of change.

Delay by the auditing firm to notify the Authority of filing a lawsuit in the UAE

2,000 per each month, against another auditing 5 subject to a maximum of firm concerning the 10,000 per year. practice of the profession within 30 days from the lawsuit filing date.

Delay by the auditing firm

2,000 per each month, to notify the Authority of 6 subject to a maximum of any amendment to its data 10,000 per year. within 30 days from the

date of such amendment.

§Article 4 — Grievance

Any party having interest may file a written complaint to the Grievance Committee at the Authority against any administrative penalty imposed against the complainant under this Resolution within 30 days from the date of being notified of the decision subject of the grievance. If the last day corresponds to an official holiday, the grievance period shall be extended to the next working day, provided that the Committee shall decide on the complaint within 30 days from its submission date and pursuant to the procedures applicable in the Authority.

§Article 5 — Amendment of Administrative Fees and Penalties

The Cabinet shall have jurisdiction to amend the administrative fees and penalties set forth in this Resolution, whether by addition, deletion or variation.

§Article 6 — Final Provisions

1.The administrative fees and penalties set forth herein shall be collected by the means determined by the Ministry of Finance.

2.For the purposes of collecting the administrative fees and penalties set forth in Articles (2) and (3) herein, a part of a month shall be calculated as a full month and a part of a year shall be calculated as a full year.

§Article 7 — Issuance of Enforcement Decisions

The Board of Directors of the SCA shall issue the required decisions to enforce the provisions of this Resolution.

§Article 8 — Rescindment

Any provision contrary to the provisions of this Resolution shall be rescinded.

§Article 9 — Publication and Effectiveness

This Resolution shall be published in the Official Gazette and shall come into effect after (60) sixty days of its publication date.

Mohammed Bin Rashid Al Maktoum Prime Minister Issued by us on 14th July 2017

Table of Fees for Services Provided by the Securities and Commodities Authority Attached to the Cabinet Resolution No. (21) of 2017

Service Fees S/N Service Type (in AED) Application Registration Renewal Public Joint Stock Companies Incorporation of 10,000 1 a public joint 5,000 50,000

Per year Conversion of any commercial 2 company to a 2,000 50,000 / public joint Increase of capital of a public joint by issuing priority right 3 / 30,000 / shares or converting debt instruments such as Sukuk or bonds to stocks.

Acquisition of 51% or more of the shares of a public joint 4 / 30,000 / listed on a financial market in the UAE Merger of two 5 or more public / 30,000 / joint stock

companies listed on a financial market in the UAE.

Merger of a public joint listed on a 6 financial market / 30,000 in the UAE with any other commercial company.

A true copy of all the transactions

100 per each 7 related to any / / certified page Public Joint- Stock Company.

Certificate of amendment of the Articles 8 2,000 / / of Association o f any public joint stock company.

To Whom it May Concern 9 Certificate to a 500 / / public joint Auditors of Public Joint-Stock Companies and Mutual Funds Accreditation of an auditing firm to audit the 20,000 10,000 accounts of 10 2000 For a 3-year Per each 3- public joint-

term year term stock companies and mutual funds Re-registration 11 of an auditing / 4,000 / firm in the

Register of Auditors after de-registration thereof.

To Whom it May Concern 12 500 / / Certificate to an auditor.

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