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 | Issue Number : 3171

New Provision on the Supervision of Businesses in the Energy and Minerals Sectors

Energy
The Ministry of Energy and Mineral Resources (“Ministry”) has issued Regulation No. 42 of 2017 on Business Supervision within the Energy and Mineral Resources Business Sector (“Regulation 42/2017”). This regulation is expected to improve the effectiveness of the supervision of the energy and mineral sectors by redefining provisions which relate to the following matters:
 
1. The mechanism for the securing of approval from the Ministry for any transfers of participating interest and/or shares, as well as any changes which are made to the composition of any Board of Directors (“BOD”) and/or Board of Commissioners (“BOC”) which are undertaken by the following parties (“Businesses”):
......

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The Ministry of Energy and Mineral Resources (“Ministry”) has issued Regulation No. 42 of 2017 on Business Supervision within the Energy and Mineral Resources Business Sector (“Regulation 42/2017”). This regulation is expected to improve the effectiveness of the supervision of the energy and mineral sectors by redefining provisions which relate to the following matters:
 
1. The mechanism for the securing of approval from the Ministry for any transfers of participating interest and/or shares, as well as any changes which are made to the composition of any Board of Directors (“BOD”) and/or Board of Commissioners (“BOC”) which are undertaken by the following parties (“Businesses”):
......

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