The item you have requested is not currently available in English and you have been redirected to the next available page. You may use your browser's back button to return to the item you were viewing.
Country desks feature Dentons lawyers in one jurisdiction with a particular focus or experience in another jurisdiction.
Learn more about our Canada capabilities
Learn more about our United States capabilities
Learn more about our Latin America and the Caribbean capabilities
Learn more about our Europe capabilities
Learn more about our United Kingdom capabilities
Learn more about our Central and Eastern Europe capabilities
Learn more about our Russia, CIS and the Caucasus capabilities
Learn more about our Africa capabilities
Learn more about our Middle East capabilities
Learn more about our Central Asia capabilities
Learn more about our China capabilities
Learn more about our ASEAN capabilities
Learn more about our Asia Pacific capabilities
Learn more about our Australia capabilities
At Dentons, we bring together top tier talent found at the intersection of geography, industry knowledge and substantive legal expertise. Start by clicking here
Lexpert recognizes 26 Dentons lawyers as "Canada’s Leading Energy Lawyers”
Dentons is proud to congratulate an impressive 26 lawyers, who are listed as “Canada’s Leading Energy Lawyers” by Lexpert.
It's Never Too Early to Avoid the Year-End Rush on Billing Issues
Often, attorneys may feel tempted to ignore billing issues until the year-end collections push.
Avoid Issues When Practicing Law in Other States
Because many businesses operate on a national (or even global) scale, it is unsurprising that those businesses often want their attorneys to be able to do the same.
Will the trek to an injunction be a more difficult walk in the (Wrotham) Park now?
Negative covenants, also known as restrictive covenants, are contractual obligations not to do certain acts.
What do the EBA's Supervisory Principles on Relocations (SPoRs) mean for BREXIT-proofing of business and for other market participants moving to the Eurozone?
The EBA’s SPoRs share a number of common supervisory aims set out in similar Opinions issued by the EBA’s sister European Supervisory Authorities (the ESAs) during 2017 and the updates issued in 2018.
Starting your career as a student at Dentons exposes you to a world of experience and opportunities
With 167+ locations in 73+ countries, Dentons is home to top-tier talent that is found at the intersection of geography, industry knowledge and substantive legal experience. Working with Dentons, you will have the opportunity to learn from the best lawyers in the industry at the largest law firm in the world.
Dentons named Innovator of the Year
Dentons has been named Innovator of the Year at the Lawyers Weekly Australian Law Awards 2018.
Counsel Alexander Kovalev and Senior Associate Alina Mamaeva join Dentons
Counsel Alexander Kovalev and Senior Associate Alina Mamaeva have joined the team of Dentons’ Russian Life Sciences practice.
Dentons launches premiere Intelligence & Strategic Services practice
Dentons, the world's leading global law firm, today announced the launch of its Intelligence & Strategic Services (ISS) practice.
Corporate governance in Oman has undergone a period of renaissance in 2016 with the new Code of Corporate Governance for Public Listed Companies (the Code) coming into effect on 22 July. The Capital Market Authority (CMA) has prescribed 14 new Principles that are in keeping with internationally accepted standards of corporate governance. This forms part of a drive by the government to ensure better regulation and administration of public companies listed on the Muscat Securities Market and a renewed stimulus to attract greater foreign investment.
Public listed companies and their advisers have been gearing up to navigate the new corporate governance terrain in Oman. In a Circular issued on 1 December 2016 (Circular E/10/2016), the CMA offers fresh guidance on aspects of the Code that have been queried since it came into effect.
The Circular clarifies that compliance with the provisions of the Code are mandatory as they form part of the listing requirements under Article 50 of the Capital Market Law (SD 80/89). It is also now clear that the explanatory notes under each Principle are also binding and that they represent the minimum requirements that listed companies should implement or comply with.
The Circular touches on a number of aspects of the Code including director sitting fees, director independence, the role of the audit committee, the nomination committee and the board secretary, related party transactions, public disclosure requirements and procedures on holding board meetings. We will follow with a further update covering some of these aspects however, in this article we discuss one of the key areas of the Code that the Circular offers some much needed guidance on.
Under the Code, listed companies are now required to appraise and evaluate their boards on an annual basis using an independent consultant appointed by the shareholders at the AGM.
Many public companies will be preparing to hold their AGMs during the first 3 months of 2017 and there has been some ambiguity as to how companies will comply with the new board appraisal requirements for the first time. The Circular’s guidance is that:
Further direction offered in the Circular is that the general meeting may resolve to form a committee to appraise the performance of the board consisting of shareholders who hold 5 per cent or less of the share capital (of course whilst doing so, if a shareholder is also a director, they should abstain from such participation). This seems to be a suggestion rather than a mandatory requirement and would be in addition to the requirement for appointing an independent consultant.
Finally, the Circular also clarifies that there are no minimum requirements for the selection of the independent consultant, except that the consultant should not be a member of the executive management or be the external auditor of the company (the direction in the Code itself is that neither the external nor the internal auditor of the company may be engaged).
The general tone of the Circular is to assist and provide guidance on the Code. It is clear that the CMA realises that uncertainty in interpreting the Code does exist and that companies will at first require guidance and direction on the new corporate governance landscape in the Sultanate. Overall, the message is that the CMA is committed to improving and enhancing the legislative and regulatory framework in the interest of public companies.
Dentons, Muscat has more than three decades of experience of advising corporates in corporate governance issues in Oman. For any points of clarification on the new Code, the Circular and on the new requirements for Board evaluation please do not hesitate to contact us. We would be very happy to hear from you.
The URL of this tweet is below. Copy it to easily share with friends.
Add this Tweet to your website by copying the code below. Learn more