Board Resolution Approving Dissolution of Subsidiary

Document Summary

This document records the decision of the board of directors of a holding company to dissolve a subsidiary.

Description

As per article 21 of Federal Decree Law No. 32 of 2021 on Commercial Companies, a subsidiary enjoys a separate legal personality from its holding company and has its own independent financial liability.

This resolution involves:

• The decision to dissolve the subsidiary.
• The authorization of the officers of the holding company to conduct the necessary actions to proceed with the dissolution.

Jurisdiction

This document is intended for use in the United Arab Emirates.

Disclaimer

This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.

Before Execution

• The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.
• Please delete this front page together with the information contained in the headers, footers, and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.
• Please remove the square brackets and all highlighting prior to signature