emirates7 - H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, chaired a meeting of the Executive Council on Tuesday morning. In attendance were H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Sharjah Executive Council, along with H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Sharjah Media Council. The meeting took place at the Ruler's office.
The council reviewed the overarching policies governing government operations in Sharjah and explored ways to enhance these strategies, particularly in light of the substantial advancements and broad development happening across various sectors and segments of society in the emirate.
One key decision announced during the meeting was the introduction of regulations for family businesses within Sharjah. This initiative seeks to establish a legal framework to guide the organisation and governance of family businesses, ensuring their smooth transition between generations, promoting sustainability, and strengthening their economic contributions to the emirate. Additionally, the regulation aims to introduce mechanisms for resolving disputes within family businesses.
The new regulation applies to family businesses formed in the emirate, existing companies owned by single families, and family enterprises in free zones, as long as they do not conflict with existing free zone regulations. Under this decision, family businesses are required to have incorporation contracts aligned with the provisions of the Companies Law. The regulations also address ownership matters, share transfers, share classifications, family endowment businesses, and the family charter. They cover dispute resolution, as well as the procedures for dissolving and liquidating companies, accompanied by executive decisions on enforcement.
The council also discussed proposals to support urban development in residential areas throughout Sharjah's cities and regions, aiming to promote social cohesion and family stability among the emirate's citizens.
In a nod to the continuous support of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the council reviewed a presentation on the academic progress of government employees. The Sharjah Ruler has consistently encouraged citizens to pursue education and take advantage of scholarships, with many government employees showing enthusiasm for furthering their studies across various academic disciplines and levels.
The council reviewed the overarching policies governing government operations in Sharjah and explored ways to enhance these strategies, particularly in light of the substantial advancements and broad development happening across various sectors and segments of society in the emirate.
One key decision announced during the meeting was the introduction of regulations for family businesses within Sharjah. This initiative seeks to establish a legal framework to guide the organisation and governance of family businesses, ensuring their smooth transition between generations, promoting sustainability, and strengthening their economic contributions to the emirate. Additionally, the regulation aims to introduce mechanisms for resolving disputes within family businesses.
The new regulation applies to family businesses formed in the emirate, existing companies owned by single families, and family enterprises in free zones, as long as they do not conflict with existing free zone regulations. Under this decision, family businesses are required to have incorporation contracts aligned with the provisions of the Companies Law. The regulations also address ownership matters, share transfers, share classifications, family endowment businesses, and the family charter. They cover dispute resolution, as well as the procedures for dissolving and liquidating companies, accompanied by executive decisions on enforcement.
The council also discussed proposals to support urban development in residential areas throughout Sharjah's cities and regions, aiming to promote social cohesion and family stability among the emirate's citizens.
In a nod to the continuous support of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the council reviewed a presentation on the academic progress of government employees. The Sharjah Ruler has consistently encouraged citizens to pursue education and take advantage of scholarships, with many government employees showing enthusiasm for furthering their studies across various academic disciplines and levels.