Law No. (19) of 2005 Concerning the Financing of the Projects of the Ports, Customs, and Free Zone Corporation

المادة 1

The following Article (5)bis is hereby inserted into the above-mentioned Law No. (1) of 2001: Article (5)bis The PCFC is hereby authorised to finance its projects or those of any of its Affiliates or Subsidiaries through any financing options, including through borrowing; through issuing bonds, Islamic bonds (sukuk), or Islamic partnership bonds (Musharaka sukuk), or through trading in any other financial instruments issued by any source it deems appropriate. For this purpose, the PCFC may provide, or authorise its Affiliates or Subsidiaries to provide, any financial security, concession, or guarantee or create any mortgage/ pledge to obtain such finance. The PCFC may also mortgage and sell land.

المادة 2

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