DOHA: The Cabinet yesterday cleared the decks for a draft law seeking to allow foreigners to own up to 49 percent of the share capital of a listed company.
Qatar News Agency (QNA) reported that the Cabinet, at its weekly meeting, took measures to issue the draft law with amendments to some provisions of Law No 13 of 2000 regulating a non-Qatari’s investment in a Qatari-listed company.
Foreigners can own more than 49 percent share capital of a listed entity provided the Ministry of Economy and Commerce approves it. The draft law also seeks to pave the way for treating GCC citizens on a par with Qataris in stock ownership and trading.
The Cabinet also approved a draft law that seeks to allow a charitable organization, on the request of its head, to ask for a loan or state subsidy for a charitable project. Charities are also to be exempted from tax.
The Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani chaired the weekly Cabinet meeting.
The Deputy Prime Minister and Minister of State for Cabinet Affairs H E Ahmed bin Abdullah bin Zaid Al Mahmoud said that based on recommendations of the Advisory Council, the Cabinet took measures to issue a draft Law on regulation of providing Haj and Umrah services.
It includes conditions and regulations for granting a licence to practise the profession of providing Haj and Umrah services. The company applying for the licence shall be wholly owned by Qataris.
The draft law also includes the formation of Qatari Hajj Mission and determining its mandate and terms of reference.
The session also issued a draft law to determine the border of Tembuk Village; and a draft law to determine the border of Sanie Al Hemaidi Village.
It then approved a draft law amending some provisions of Decree-Law No. 17 of 2010 on organising National Human Rights Committee. It also endorsed a draft law on a national system to control nuclear materials. The draft law meets the requirement of the Treaty on Non Proliferation of Nuclear Weapons that Qatar establishes a system for controlling all nuclear materials subject to safeguards.
It has basic provisions, including the jurisdiction of National Committee on Arms Embargo to apply provisions of the law and provisions of safeguards agreement and the statute of International Atomic Energy Agency in addition to controlling nuclear materials used or produced in all operations, and providing IAEA with reports in line with the agreement.
The Cabinet endorsed an Emiri Decision on the formation of a board for the entity in charge of regulating charity work.
The board is headed by the Minister of Labour and Social Affairs and has members from relevant entities. The board has a three-year renewable term.
DOHA: The Cabinet approved its draft decision taken earlier to carve out Al Shahaniya from Al Rayan Municipality and declare it an independent municipality. Once set up, Al Shahaniya will be Qatar’s eighth municipality and would include Raudat Rashid, Al Karana, Al Khurais, Jamiliya and Al Baab, among others. The last reorganisation of municipalities was done in 2004, when Al Dhayeen was carved out of Al Khor and Umm Salal municipalities. The carving out of Al Shahaniya municipality would help create job opportunities in the town. QNA
