Abu Dhabi Global Market has published its latest draft regulations, this time regarding its courts and judicial system.
The publication of the regulations, accompanied by a month-long public consultation period, comes less than two weeks after the appointment of the former British supreme court judge David Hope of Craighead as chief justice of the financial free zone’s courts, and also the appointment this week of Linda Fitz-Alan as courts registrar.
The draft legislation – modelled principally on the English judicial system but with various additions from Scottish and Australian law – provides for the establishment of a common law court, touching on civil evidence, judgments, enforcement and judicial appointments regulations, and arbitration regulations.
Members of the public will have until November 13 to submit their comments.
The consultation on the courts and judicial system is ADGM’s third this year, following consultations in January and June on regulations pertaining to companies and financial institutions respectively.
ADGM began accepting licence applications from non-financial institutions in June,
It aims to register its first financial institutions by the end of the year.
jeverington@thenational.ae
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