Law No. (4) of 2003 Establishing Techno Park

المادة 1

A public corporation named "Techno Park" shall be established in the Emirate of Dubai. The Corporation shall have legal personality, financial and administrative autonomy and the full legal capacity to act within the scope of its objectives, and it may appoint any person to represent it in any judicial proceedings. The Corporation aims at serving as a hub for technology transfer, adaptation, and improvement. The Crown Prince shall determine the location from which the Corporation shall conduct its activities.

المادة 2

For the purpose of achieving its objectives, the Corporation shall have the powers to: 1. provide the infrastructure and superstructure of Techno Park; 2. issue regulations and bylaws to achieve the objectives of Techno Park; 3. organise and supervise activities within Techno Park; 4. enter into relations with third parties, such as companies and consortiums, from within and outside Techno Park, and grant approvals related to operating Techno Park; 5. issue licences to persons, companies and scientific entities wishing to operate within Techno Park, in accordance with the regulations and bylaws in force; 6. cooperate, coordinate and enter into agreements with national and international scientific institutions and entities; 7. impose and collect fees for services provided by Techno Park; and 8. own land granted to Techno Park by the Government and, for the purpose of performing its duties, sell or lease such land.

المادة 3

The businesses and activities undertaken within Techno Park shall include: 1. research and development centres; 2. laboratories; 3. educational and training institutes; 4. incubators; 5. transfer, acceleration, adaptation and development of technology; 6. design, consultancy and other technology services; 7. producing innovation prototypes; 8. manufacturing high-tech products; and 9. technology financing.

المادة 4

Mohammed bin Rashid Techno Park shall operate in accordance with the legislation applicable to the Ports, Customs and Free Zone Corporation and its affiliates.

المادة 5

All bylaws, regulations and resolutions that regulate work within Mohammed bin Rashid Techno Park shall be issued by the Chairman of the Ports, Customs and Free Zone Corporation.

المادة 6

Civil penalties shall be imposed, by virtue of a special regulation issued by the Chairman of the Ports, Customs and Free Zone Corporation, on any person who violates any provision of this Law, the regulations issued in pursuance thereof or any terms of the licence issued by Techno Park.

المادة 7

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