Decree No. (32) of 2005 Establishing a Public Corporation Named the “Dubai Equestrian Club”

المادة 1

1. Pursuant to this Decree, an independent public corporation named the “Dubai Equestrian Club” (the “DECC”) is established. 2. The DECC will have legal personality and financial and administrative autonomy, and will be owned by the Government of Dubai. 3. The DECC may sue and be sued in its own name and may, for this purpose, appoint any person to represent it in any judicial proceedings.

المادة 2

The DECC will have the following objectives: 1. to own, operate, and manage the Dubai Equestrian Club (an existing club) and any other facilities to be established by the DECC (collectively referred to hereinafter as the “Club"); and to own and operate any other equestrian facility or club within the Emirate of Dubai; 2. to develop, promote, and encourage the equestrian sport with a view to reaching international standards; and to ensure the sport is practised under the umbrella and regulations of the International Federation for Equestrian Sports (FEI); 3. to adopt international principles and standards relating to equestrian sports, including: a. showjumping; b. endurance riding; c. dressage; d. eventing (three-day competition); e. combined driving; f. vaulting; g. reining competitions; and h. para-equestrian competitions. 4. to organise international equestrian competitions; 5. to draft and develop regulations, bylaws, and rules governing equestrian sports and equestrian competitions; 6. to own, take lease of, and manage the real property and facilities required for achieving the DECC objectives; and 7. to engage in any business which is directly or indirectly related or conducive to promoting and achieving its objectives. In addition, the DECC will have the power to draw, accept, and endorse any negotiable instruments; to borrow funds with or without security to achieve its objectives; to invest its property in any manner it deems appropriate; and to hold shares in other companies.

المادة 3

Effective as of the date on which this Decree is issued, ownership of all real property, facilities, movables, and other assets existing within, or belonging to, the Club , including all rights and goodwill, is hereby transferred to the DECC. The DECC will also be liable for all the Club’s obligations and debts of any kind.

المادة 4

The DECC may open branches within and outside of the Emirate of Dubai.

المادة 5

The DECC will be managed by a board of directors, whose members will be appointed by the Ruler.

المادة 6

The board of directors will appoint the director general, and determine his pay grade and salary.

المادة 7

The Government of Dubai will not be liable for any debts or obligations claimed from the DECC, the chairman, or any member of the board of directors.

المادة 8

Neither the chairman nor any member of the board of directors will, in the course of managing and operating the DECC, be liable to third parties for any act or omission with respect to such management or operation. The DECC will be solely liable to third parties for such act or omission.

المادة 9

No entity may recover any debt from, or enforce any obligation against, the DECC by way of taking possession, seizure, sale by public auction, or acquisition by any other legal process, of real property, facilities, or other tangible assets owned by the DECC, whether or not a definitive judgement in respect of such debt or obligation has been rendered.

المادة 10

This Decree comes into force on the day on which it is issued, and will be published in the Official Gazette.