Law No. (12) of 2007 Amending Law No. (1) of 2001 Establishing the Ports, Customs, and Free Zone Corporation

المادة 1

The following Article (18)bis is hereby inserted into the above-mentioned Law No. (1) of 2001: Article (18)bis The PCFZ may outsource the management and performance of all or any of its operations or the operations of its affiliates, including capital preservation and development, to one or more legal persons (the “Operator(s)”). The PCFZ may, subject to the conditions it deems convenient, make any contractual arrangements for the assignment; transfer of ownership; mortgage; or disposition, in any manner, of the assets of the PCFZ or of its affiliates in order to achieve any objectives it deems appropriate. The Chairman is authorised to sign all documents and contracts required in relation to any Operator(s). Neither the PCFZ nor its affiliates will be liable for any debts or obligations claimed from any Operator(s) or from any other party.

المادة 2

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