By Sam Willie
The National reports on a move by Abu Dhabi Global
Market (ADGM), a soon to be financial market in the UAE, to release draft
legislation and regulations for public comment prior to implementation. The
proposed legislation covers topics ranging from corporate formation and
bankruptcy law to labor and property rights. It is hoped that the commenting
period will allow leading financial institutions and business minds to work
hand-in-hand with the ADGM to construct an attractive venue for businesses. The
draft legislation utilizes English common law as its legal base, with modifying
statutes as needed.
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