CMA Decision No. 8/Chairman of 2021 · UAE Federal
Amending instrument that changes the Joint Stock Companies Governance Guide (CMA Decision No. 3/Chairman of 2020). The CMA has consolidated its changes into the current text of the amended regulation and keeps this instrument in its archive of amending regulations.
Chairman's Decision No. (08/Chairman) of 2021 introduced the requirement that every public joint stock company have at least one woman on its board. It amends the Joint Stock Companies Governance Guide (Decision No. 3/Chairman of 2020), was issued in Abu Dhabi on 28 March 2021 by the Minister of Economy as Chairman of the Securities and Commodities Authority Board, after Board approval on 22 February 2021, and takes effect on the day after publication in the Official Gazette.
The First Article replaces Clause 3 of Article 9 of the Guide: the articles of association set the method of forming the board, the number of members and the term of membership, provided that women's representation on the board is not less than one member, and the company must disclose that representation in its annual governance report. The Second Article requires companies to meet the women's-representation requirement whenever directors are appointed or elected, a vacancy is filled or the board is enlarged. The Third Article deals with publication and commencement.
The decision sets no separate transitional period and no penalties of its own. Later amendments, Decision No. (06/Chairman) of 2022 and Decision No. (02/Chairman) of 2024, rewrote other clauses of Article 9.
Public joint stock companies subject to the Governance Guide, their boards and nomination committees, and the shareholders who elect directors.
English official text in 1 passages. Open the full text or jump to a provision:
| Article 1 (printed as First Article) | Replaces Article 9(3) of the Guide: articles set the method of forming the board, its size and term, with at least one woman member, disclosed in the annual governance report. |
| Article 2 (printed as Second Article) | Companies must meet the women's-representation requirement on appointment, election, filling of a vacancy or increase in board membership. |
| Article 3 (printed as Third Article) | Publication in the Official Gazette; the decision takes effect from the day following its publication. |
Board composition is part of our corporate secretarial checklist for public joint stock company clients and for companies converting ahead of a listing. We check that the articles of association carry the women's-representation clause, that nomination and election papers keep the board compliant after every change, and that the annual governance report discloses it. We are not licensed by the CMA.
| Amends | CMA Decision No. 3/Chairman of 2020 |
| Cites | Former SCA Law |
“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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