This week the spotlight is on legal and regulatory developments in Oman, where the Sultan has approved five Sultani Decrees, including a Decree amending the country’s Law on the Protection of Competition and Prevention of Monopoly.

Oman Sultani Decree No. 22/2018 amends Article 1 of Oman Sultani Decree No. 67/2014 replaces the word ‘Authority’ wherever it occurs in the Law with ‘Centre’ and replaces the definition of the ‘Authority’ wherever it occurs in the law with ‘The Centre: Centre of Protection of Competition and Prevention of Monopoly’. Anything which contradicts or contravenes the Decree is cancelled. It will be published in the Official Gazette and come into force the day after it is published.

The Sultan also approved a Sultani Decree amending Oman Sultani Decree No. 35/2012 which promulgates the System of the Public Authority for Investment Promotion and Exports Development. Under Oman Sultani Decree No. 23/2018, anything which contradicts or contravenes the Decree is cancelled. It will be published in the Official Gazette and come into force the day after it is published.

In addition, the Sultan approved Oman Sultani Decree No. 26/2018 establishing the Oman Commercial Arbitration Centre. It will be affiliated to the Oman Chamber of Commerce and Industry but will have its own legal identity and financial and administrative autonomy. The Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry will issue the operational systems and functions of the Commercial Arbitration Centre. Anything which contradicts it is cancelled. It will be published in the Official Gazette and come into force on the day it is published.