The company will be a corporate body and a fully independent financial and administrative entity with full legal competence to assume its activities.

It has been capitalised at Dh100 million to be divided into one million shares with a nominal value of Dh100 per share.

The company is intended to promote exhibitions locally, regionally and internationally and its activities include holding, organising and sponsoring local, regional and international exhibitions and conferences inside and outside the emirate, or participating in them.

The company will also be able to set up, own or participate in companies and trading enterprises and activities related to holding and organising exhibitions.

It has the right to offer part of its shares in a public offering, provided it is limited to UAE nationals. The shares must not be offered for less than their nominal values or split.

A seven-member board of directors including the chairman and his deputy shall run the company. The appointment of members of the board shall be in accordance with a decision by the Executive Council. The membership term shall be three years and is renewable.

In accordance with the law the General Exhibition Corporation, established under Law No. 3 for 1998, is to be disbanded and all its employees, assets, rights and obligations are to be transferred to the company with effect from the date of issuance of this law.

Ma'arid will be based in Abu Dhabi, and may set up branches or offices inside and outside the emirate, upon a decision by its board of directors.

The law also stipulates the company will be established for 50 years starting from the date of its establishment.

This term is renewable for another 50 years unless a new law is issued to shorten the period or dissolve the company.

The new law abrogates law No 3 of 1998 and any other provisions contradicting its provisions.

It shall come into effect from the date of issue, and is to be published in the official gazette.