Federal Decree by Law No. (37) of 2022 On concerning the Family Businesses

Issued at the Palace of the Presidency on 3 October 2022 and in force three months after the day following publication (Article 28). Article 6 gives the family charter statutory standing but Article 6(3) makes the Articles of Association prevail in any conflict and Article 6(5) makes deposit in the Register optional; Article 3 excludes joint stock companies and partnerships from scope entirely and makes registration an opt-in decision of the majority shareholders. Article 8 supplies a pre-emption cascade with 60 and 30 day clocks, Article 9 sets squeeze-out thresholds at 90 per cent against non-family partners and 95 per cent of voting shares against family partners, Article 11 caps treasury shares at 30 per cent, Article 12 creates voting and non-voting share classes, and Article 19 gives the internal conciliation board and the statutory Committee three months each.