Law Informations
Regarding Exempting The Activities Of The Real Estate Settlement Committee From The Prior Control Of The State Audit Institution
Number: Law No. 15 of 1981
Issued On: 27 July 1981
Type: Federal law
Federal Law No. 15
REGARDING EXEMPTING THE ACTIVITIES OF THE REAL ESTATE SETTLEMENT COMMITTEE FROM THE PRIOR CONTROL OF THE STATE AUDIT INSTITITUTION
Law no. 1 of 1972 regarding the Jurisdiction of the Ministries and the Powers of the Ministers and the amending Laws thereof; and
The Decision of the Council of Ministers no. 9 of 1980 regarding the Real Estate Loans Settlement Committee; and
The Decision of the Council of Ministers no. 2 of 1980 regarding the Regulation of Settlement of Real Estate Loans
.
.Acting upon the proposal of the Minister of Planning, President of the Real Estate Loans Settlement Committee and the approval of the Council of Ministers and the Federal National Council, and the ratification of the Federal Supreme Council;
The activities of the Real Estate Loans Settlement Committee set up by the decision of the Council of Ministers of session no. 9 of 1980 shall be exempted from the prior control of the State Audit Institution regulated by Federal Law no. 7 of 1976.
The State Audit Institution regarding the subsequent control on the activities of the Real Estate Loans Settlement Committee shall observe the auditing program endorsed by this Committee in the light of the conditions and situations of the real estate loans in the United Arab Emirates State.
This Law shall be published in the Official Gazette and shall be put into effect starting from the date on which the Loans Settlement Committee carry out its activities.
