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Federal Law No.14 of 2017 on trading in Petroleum Products.

Type of law
Legislation
Source

Abstract
This Law consisting of 23 articles aims at (i) organising the trade of petroleum products; (ii) determining the conditions and procedures of trade of petroleum products; and (iii) combating the practices intended to harm the national economy, the security and the environmental safety related to the present Law. The application of the provisions of this Law includes free zones, special development zones and investment zones. The Law establishes that to trade petroleum products in the territory of the State must be authorized by a license issued on the Trading Authorization whose rules are established by the Minister of Energy. A register shall be created at the Ministry, in which the data of the authorized persons and the facilities and means of transportation through which the trading is made shall be recorded. A Committee for the Organisation of Trading of Petroleum Products shall be formed in each Emirate with the following main tasks (i) study the applications for issuance of the Trading Authorizations referred to it by the Competent Authority; and (ii) verify the fulfillment of the adopted security and environmental safety requirements by the means of transport, the means of manufacture and storage, and the establishments through which the trading will be done. Powers of the Competent Authority are provided for at art.7, while the Obligations of the licensee are provided for at art.13.
Date of text
Entry into force notes
This Law enetrs into force 3 months after its publication in the Official Gazette.
Repealed
No
Source language

English

Legislation Amendment
No