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28 May 2023

09 Thul-Qi'dah 1444

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Law No. 5 of 2002, promulgating the Law of Commercial Companies

Law Summary Record Type: LawNumber: 5Date: 25/05/2002 Corresponding to 14/03/1423 HijriNumber of Articles: 348Status: In force

Official Gazette :Issue: 7Offcial Journal Issue Publication Date: 03/08/2002 Corresponding to 25/05/1423 HijriPage from: 17

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General Provisions

61 Article

The Joint Stock Company (JSC) is a company whose capital is divided into negotiable shares of equal value and a shareholder therein shall be liable only to the extent of his share in the capital.

The JSC shall derive its name from its objectives. It cannot be a name of a natural person unless the company objective is intended for the investment of a patent registered under the name of this person or it has acquired a commercial entity and took that name as its own.

In all cases, the term “Qatari joint stock company” shall be appended to the name of the company.

63 Article

The Joint Stock Company shall have a definite term that must be specified in the Memorandum and Articles of Association of the company. Where the objectives of the company require the performance of a specific task, the company shall expire upon the realization or extinction of its object.

The specified term may be extended by a decision of the extraordinary meeting of the general assembly.

64 Article

The capital of the company must be adequate to achieve the objectives for which it was incorporated. In all cases, the capital of the JSC, which issue its shares for public subscription shall not be less than ten million (10,000,000) Qatari Riyals.

65 Article

The JSC Memorandum and Articles of Association must comply with the two forms issued under a Ministerial Resolution. Breach of these two forms may not be permitted unless there are strong reasons approved by the Minister.

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