Chairman, Board of Directors, and Top Management of the EDC are committed to implementing best practices in legal management within the UAE. Accordingly, it has been decided to take its responsibility and accountability very seriously, and the legal management program will include the following stages:
The Chairman and CEO, with inputs from HODs and the Legal Consultant (as required), will identify the applicable local / regional / global legislations for the successful and smooth running of EDC (e.g. MOL, Immigration, Traffic, Municipality, Emirates ID, Abu Dhabi DED & Chamber, Trademark Registration, ESMA, etc.).
For each legal requirement, legal enforcement responsibility is to be clearly assigned to the respective HOD by the CEO/Chairman the first time the law becomes applicable, and every year thereafter as the legal environment or requirements change.
For each applicable legal requirement, legal risk assessment and mitigation are to be conducted once every 3 years by the respective HODs (based on the criticality of the applicable legal laws), and the outcome of the Legal Risk Assessment & Mitigation is to be reported to the CEO/Chairman.
The Head of Legal/Administration will liaise with the respective HODs to ensure quarterly reporting of the company's overall legal compliance – including respective legal compliance by each of the HODs. An External Auditor conducts annual legal compliance reporting (based on the applicable laws to EDC), which includes the legal entity of the firm being audited.
Each HOD will monitor changes in legal compliance requirements as applicable to their department/company from time to time.
Legal Advisor/Company Secretary/CEO is responsible for implementing this legal management policy across all departments and locations in the Abu Dhabi Emirate.
This policy will be reviewed every 3 years for its continual improvement and suitability and will be amended if required.