The Commission has agreed a plan to split Northern Rock into two banks, a “good” and a “bad” one. The “good” bank will carry on the economic activities of Northern Rock and the “bad” one will be an asset management company that will run down the remaining business. The Commission found the UK Government had kept state aid to a minimum in planning the restructuring. Treasury is pleased with the approval, which it says will allow Northern Rock to return to the mortgage markets while the back book of mortgages is managed separately.
This newsletter refers to Restructuring, Insolvency and Bankruptcy news of November 2014.
H.A.M.A.C: adoption de la première sauvegarde accélérée
Le 19 septembre 2014, le tribunal de commerce de Nanterre a ouvert la toute première procédure de sauvegarde accélérée au bénéfice de H.A.M.A.C, la société holding du groupe Alma Consulting, auquel appartient le cabinet de conseil Alma Consulting Group.
Ministerial Decisions
Ministerial Decision No. 212/2016 Issuing the Regulations on cultural initiatives Issued on 5 December 2016. Effective from the day after its publication date
Ministerial Decision No. 238/2016 Determining the fees for enrolment in the table of lawyers Issued on 1 December 2016. Effective from the day after its publication date
Royal Orders Conferring Honours
Order conferring the Sultan Qaboos Award for Culture, Science, Arts and Literature (First Class) to HE Dr. Hamadoun Touré, former Secretary-General of the International Telecommunication Union (ITU), in recognition of his efforts in the service of the ITU and the achievement of its objectives. Issued on 7 December 2016.
Ministerial Decisions
Ministerial Decisions
Ministerial Decision No. 261/2016 Amending Ministerial Decision No. 1020/2009 (on rights of audience for Omani and non-Omani lawyers). This decision extends the period within which non-Omani lawyers may have a right of audience before the Appeal Courts and Supreme Court to 31 December 2020. Issued on 22 December 2016. Effective from 1 January 2017
Sultani Decrees
Sultani Decree No. 1/2017 Ratifying the General Budget of State for Fiscal Year 2017 Enacted on 1 January 2017. Effective from 1 January 2017
Ministerial Decisions
Diwani Decision No. 39/2016 Naming members of the Municipal Council, Muscat Governorate, for the second term. Issued on 28 December 2016
Ministerial Decision No. 165/2016 Publishing the Final Account of the State for Fiscal Year 2015. Issued on 21 December 2016
Ministerial Decisions
Ministry of Manpower
Ministerial Decision No. 187/2017
Continuing the suspension of permits for the temporary recruitment of non-Omani manpower in certain professions. Permits are to be suspended for salesmen/marketing professionals and purchasing representatives, as specified in MD 608/2013 and MD 381/2016. The suspension period is to be extended by a further 6 months with effect from 1 June.
Issued on 29 May 2017.
Ministerial Decision No. 188/2017
Ministerial Decisions
Issuing the Executive Regulations of Sultani Decree No. 31/96 on determining the rules for investing the funds of the Public Authority for Social Insurance and pension funds.
A list of the state pension funds to which these regulations apply is given in Article 2 of this decision.
Issued on 13 June 2017. Effective from the day after the publication date.
Issuing the licensing and working system at the site of the customs territory in the Special Economic Zone at Duqm.
Ministerial Decisions
Amending the Classification Guide of the General Budget of State (Annex 1), attached to the Executive Regulations of the Finance Law (MD 118/2008). Issued on 24 January 2018. Effective from the issue date.
Promulgating the Regulations on school assemblies. Issued on 25 January 2018. Effective from 11 February 2018.
Official Announcements
Sultani Decrees
Sultani Decree No. 43/2012
Amends some of the provisions of the Municipal Councils Law promulgated by SD 116/2011.
Promulgated on 8 August 2012 Effective on promulgation.
Ministerial Decisions and Financial Publications
Ministry of Agriculture and Fisheries
Decision No. 177/2012