Executive Council Resolution No. (145) of 2020
Concerning the Emirates Nuclear Energy Corporation
The Executive Council has decided the following:
1. The Emirates Nuclear Energy Corporation is considered a developmental entity based on Law No. 2 of 2018 regarding the establishment of Abu Dhabi Developmental Holding Company.
2. The transfer of the entire share capital of the Emirates Nuclear Energy Corporation from the Government of Abu Dhabi to the Abu Dhabi Developmental Holding Company shall not prejudice the following:
• The licenses, permits, exemptions, or approvals issued to it by federal and local government entities in the state, which the Corporation or any of its subsidiaries enjoy, and these licenses, permits, exemptions, and approvals shall remain in effect.
• The rights and obligations of the Emirates Nuclear Energy Corporation and any of its subsidiaries as stipulated in any applicable legislation, agreements, contracts, or documents concluded by the Corporation or any of its subsidiaries.
• The obligations of the Government of Abu Dhabi prior to the issuance of this resolution, in accordance with any agreements, contracts, or documents concluded by the Government with third parties, including any guarantees provided by the Government concerning the obligations of the Emirates Nuclear Energy Corporation or any of its subsidiaries.
3. The Department of Finance is authorized to issue a letter to confirm any guarantees issued regarding the obligations of the Emirates Nuclear Energy Corporation or any of its subsidiaries as may be necessary to obtain any approvals or permits required for the implementation of the provisions of this resolution.
4. Without prejudice to the obligations of the Emirates Nuclear Energy Corporation, the Abu Dhabi Developmental Holding Company may convert the Emirates Nuclear Energy Corporation into a public joint-stock company wholly owned by it or by one of its wholly-owned companies.
5. This resolution shall be effective from the date of its issuance.
Dr. Mohammed Rashid Al Hamli
Secretary General
Date of Issuance: 20 - September - 2020 AD
Corresponding to: 03 – Safar – 1442 AH