Muscat: His Majesty Sultan Haitham Bin Tarik on Thursday issued two Royal decrees reading as follows:
Royal Decree No 44/2021 amends some provisions of the Insurance Companies Law, after presenting the same before the Council of Oman.
Article (1) introduces the amendments attached (to this decree) to the aforesaid Insurance Companies Law promulgated under Royal Decree No 12/79.
Article (2) cancels all that contradicts the attached amendments or contravenes their provisions.
Article (3) says that this decree shall be published in the Official Gazette and enforced from the day following its date of publishing.
Royal Decree No 45/2021 amends some provisions of the Takaful Insurance Law (collaborative insurance), after presenting the same before the Council of Oman.
Article (1) introduces the amendments attached (to this decree) to the aforesaid Takaful Insurance Law promulgated under Royal Decree No 11/2016.
Article (2) cancels all that contradicts the attached amendments or contravenes their provisions.
Article (3) says that this decree shall be published in the Official Gazette and enforced from the day following its date of publishing. --ONA
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