chlamor
01-08-2010, 06:41 PM
Ownership and lease of 50 years for foreign investors in Iraq
Translated by IRAQdirectory.com - [1/7/2010]
Investment law Granted amendment in Iraq and has ratified by Iraqi presidency today.
foreign and domestic investors have the right to own land and property and to rent for 50 years, and formation of local bodies to invest in the regions and governorates.
Today issued another law for consumer protection, for adoption of principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of industrial fraud and packaging industry manipulation and what was listed by the data and specifications.
The text of the new law, which was sent by the Iraqi presidency to "Elaph" was about the right of the Iraqi or foreign investor to own land and real estate owned by the State define by terms of allowance calculated in accordance with special regime, has the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects exclusively, and to obligate, Iraqi or foreign investors, who possess land ,with purpose for which land or property are possessed and not by speculation.
In the case of the failure of Iraqi or foreign investor, who owns land or property under this Act to fulfill its obligations within the period specified in the agreement with the board of investment for the donors leave, by the Department of Real Estate Registration, at the request of that body to cancel the registration and return of land or property to its former owner allowance in return for selling him.
The law requires the Iraqi or foreign investor , construction of housing units during the period specified in the agreement, sale or lease to the citizens in accordance with the instructions issued for this purpose. For the Iraqi or foreign investor to act in other parts of the housing project throughout the period of leave under the terms of the agreement with him. He pointed out that they have the right to lease land and property from the State, private and mixed sectors for the purpose of the establishment of investment projects by for no more than the duration of the leave, which does not exceed a duration of fifty years subject to renewal, taking into account the nature of the project and the economic feasibility of it.
And granted the right to investment authority for the leave the agreement with the Iraqi or foreign investor on the project to return to the State or Territory or the preservation of non-regular in the territory, after the expiration of the leave and the conditions contained in the agreement with him. It allows the Iraqi or foreign investor to transfer the ownership of the investment project in whole or in part during the period of leave to any Iraqi or foreign investor to another new investor continue to work on the project in the same jurisdiction or in another jurisdiction, after the approval of the donors leave, and new investor replaces an investor Previous rights and obligations under this law and the provisions of the agreement with the investor mentioned in the case of transfer of an Iraqi investor or foreign ownership of the project during the period of enjoyment of benefits, facilities and guarantees granted to him, the new investor continue to enjoy until the expiry of that period.
The law exempted from the special procedures of State for the rental of real estate investor, Iraqi or foreign, for the purposes of the establishment of investment projects under the Act from the provisions of law on the sale and rental of state funds No. (32) for the year 1986 or any other law that replaces it, is set the bases for calculating the rent, according to a regulation issued for this purpose, as well as private rental and rental of State properties for Iraqi and foreign investor for the purposes of the establishment of housing projects under this article.
The law provided for the formation of local investment in the regions and governorates not organized in a region which enjoys the moral and represented by its President and is financed by the region or province and have the powers granted investment licenses, investment planning and investment promotion, and have the right to open branches in areas under its control in coordination with the national investment to ensure the proper application of the law.
The Authority is headed by a staff member with expertise and competence rank of director general appointed for a period of (5) years with the proposal of the conservative non-regular in a territory with the consent of the Council of Ministers and shall be Chairman of the Board of Directors. The President appoints the Vice-degree assistant general manager for five years by region or province that are not organized in a territory, and is Vice-Chairman of the Board of Directors, and the Authority Board of Directors consists of seven members, including chairman and his deputy. Appointed by the Territory and the conservative non-regular in a territory of two staff members from the region or province in the territory of non-regular, workers of the constituencies with an interactive, functional grades for less than the director, as part-time members of the Governing Council for three years.
The law dictated, trading in the Iraqi market for securities, equities and bonds listed in it and gain membership in the private equity and mixed, but it does not prevent the existence of real estate as an asset of the companies mentioned.
On the applications for registration of companies or investments referred to a law that when an application was rejected, the owner can request reconsideration by the President of the region or province is part of a region within fifteen days of notification of the rejection decision, and the head of the body concerned to take action on the request within seven days from the date of registration in his office. The petitioner may appeal to the National Investment Commission within fifteen days from the date of rejection, the body deciding on the objection within fifteen days from the date of registration in the office of President of the National Commission for Investment.
If rejected by the National Investment Commission an application was submitted to it, petitioner request the Tribunal to reconsider it within fifteen days of notification of the decision and the Commission should decide on the request within seven days from the date of registration in the Office of the Chairman, whose decision shall be capable of objection the Council of Ministers within fifteen days from the date notification.
The Law added a new article to Chapter VII, provides compelling the Ministries of Finance, Municipalities and Public Works and the Municipality of Baghdad and in provincial and municipal bodies and the non-related to the Ministry to provide the land and real estate suitable for the establishment of investment projects and inform the national digits, area, ownership and gender and their uses, The National Commission allocated to Iraqi or foreign investors , according to the system proposed by the National Authority and with the consent of the Council of Ministers.
And the provisions of this law will apply on mixed-sector projects and private-sector and working at the request of management and approval of the Authority without retroactive effect. The projects include the public sector contracted for rehabilitation or operation with the private sector and the mixed benefits and facilities and all guarantees contained in the law. And the reasons for this law, it was pointed out that it comes "in order to facilitate and organize the work in the National Organization for investment, and create a favorable investment climate in Iraq, especially in the housing sector, the removal of legal obstacles that impede it, which will reflect positively on the accelerating process of economic development and reconstruction in Iraq, initiated this law. "
Presidential Council endorses the Consumer Protection Law
It also ratified the Iraqi presidency , today, the Consumer Protection Lawt, to ensure that basic consumer rights and protection of the illicit practices that lead to damage, and raise consumer awareness and prevent any act contrary to the rules of import, production or marketing of goods or detract from the benefit or lead to mislead the consumer.
This law applies to all natural and legal persons who are manufacturing, processing, sale or purchase, marketing, import or provide services or advertising.
The Law provided for the formation of the so-called "Consumer Protection Board" has the moral personality and financial and administrative independence linked to the Council of Ministers. The Council is chaired by a full-time person with experience and competence in matters relating to consumer protection and holds a university degree, at least initially. The rank of Undersecretary.
The Council consists of members of the rank of director general representing the ministries of industry and minerals, trade, health, agriculture and communications. And members of the highly expert representing the Ministry of the Environment and the Directorate General of Customs and the General Authority for Tourism and the Central Agency for Standardization and quality control, as well as representatives of the Iraqi Federation of Industries and the Federation of Iraqi Chambers of Commerce and one of the agricultural associations, along with three members representing the private sector.
The board shall develop policies and action programs to protect consumer rights organization and raise the level of consumer awareness and to receive and investigate complaints and take appropriate decisions and recommendations in the matter and direct warning to the offender must remove the violation within seven days from the date of notification or trigger its end and the continuation of the violation. And is based on the Council in warning of reports of commissions of inspection.
The Council shall also examine draft laws concerning the consumption and the consumer and to make observations in respect thereof and conducting studies, research and building the information base on consumer protection and definition to the functions and terms of reference and objectives of consumer protection associations and to help in raising awareness of consumer rights and the Council enlisted the expertise and efficiency of state employees or others, whether they are natural or legal persons for wages or bonuses by the Board, as well as the formation of committees checkpoint its headquarters in Baghdad, with branches in the governorates of Iraq. The committees shall be composed of members by the relevant terms of reference on the protection of the consumer and the Council allocated a special budget of the General Budget of the State.
The responsibility of the inspection committees see the specifications of goods and control over the storage conditions in stores and venues during working hours or after the provider and the advertiser to cooperate fully in this matter and report the competent authorities for goods damaged and not eligible for health and safety and follow its procedures in coordination with relevant ministries, as well as to reporting breaches to the Council.
The law provides that the customer has the right to obtain all information relating to the protection of legitimate rights and interests and specifications of goods and identify the proper methods to use or how to receive the service as the official language approved and guarantees for the items that require nature of such security for such period as may be agreed with the processor without loading additional expenses.
For the consumer, all with an interest in the absence of access of information provided in this Article be returned in whole or in part to the supplier and to seek compensation before the civil courts for damage caused to him or his money because of it, as well as access to after-sales service in accordance with the agreement with the equipped and freedom to choose good or service offered for the price without any interference from the processor.
And about the duties of the supplier and the advertiser, the text of the law are binding to ensure that you install the data, specifications and the components of the product, especially beginning and end of the power and the country of origin before it is put on the market or prior to the sale or purchase or advertising and comply with the specifications of Iraq or global standard to determine the quality of the goods imported or manufactured locally shall be the Central Agency for Standardization and Quality Control is the reference for this purpose with the use of animate regarding relationship.
Third: To take the name and business address and fundamentalism in the records of the competent authorities and keeping records of approved activities and maintain receipt sale and purchase or reproduce, display or presented to the competent official authorities at the request or to enable them to be found in the place without any opposition. constrictive as not to promote any means of media, publishing and advertising of the product or service that the specifications are available for local or international standard adopted, and to allow for official animate the relationship may inspect and search at the work place to obtain samples of the reservoir and displayed, in order to conduct tests for the formally accredited to determine suitability for human consumption.
The Law prohibits the provider and declared the practice of fraud and deception, fraud and concealment of material fact composed of approved standards in goods and all services or the use of force or the reluctance with inspection committees and representatives of official bodies animate the relationship and prevent them from carrying out their duties entrusted to them or obstructing by any means, production, sale, display or Declaration for goods and services contrary to public order or morals, or obscure, or alter or remove the expiration date or distortion and repackaging products damaged or expired canisters and covers that carry power to a different truth and misleading consumer.
The law is punishable by imprisonment for a period of not less than three months or a fine of not less than one million dinars, or both Any person who violates the provisions of Article (9) of thisLaw.
Second: Imprisonment for a term not exceeding three months or a fine of not more than a million dinars, or both Any person who violates the provisions of Articles (7 and 8) of thisLaw.
Third: Detective granted for any crime punishable under the law a reward of not less than one hundred thousand Dinars and not more than one million dinars to pay the party that is relevant if it leads to them telling the news to gain a conviction and the degree of resolution bits. under the law the goods and services dealt with by the supplier or marketer or advertiser of quality standards and a mechanism of supply and demand in relation to prices and production.
On the reasons for the ratification of this consumer protection law, the Presidency explained that it comes "in order to protect the consumer and adoption of the principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of fraud and industry manipulation, industrial packaging and is listed by the data and specifications"
http://www.iraqdirectory.com/DisplayNews.aspx?id=11223
Translated by IRAQdirectory.com - [1/7/2010]
Investment law Granted amendment in Iraq and has ratified by Iraqi presidency today.
foreign and domestic investors have the right to own land and property and to rent for 50 years, and formation of local bodies to invest in the regions and governorates.
Today issued another law for consumer protection, for adoption of principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of industrial fraud and packaging industry manipulation and what was listed by the data and specifications.
The text of the new law, which was sent by the Iraqi presidency to "Elaph" was about the right of the Iraqi or foreign investor to own land and real estate owned by the State define by terms of allowance calculated in accordance with special regime, has the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects exclusively, and to obligate, Iraqi or foreign investors, who possess land ,with purpose for which land or property are possessed and not by speculation.
In the case of the failure of Iraqi or foreign investor, who owns land or property under this Act to fulfill its obligations within the period specified in the agreement with the board of investment for the donors leave, by the Department of Real Estate Registration, at the request of that body to cancel the registration and return of land or property to its former owner allowance in return for selling him.
The law requires the Iraqi or foreign investor , construction of housing units during the period specified in the agreement, sale or lease to the citizens in accordance with the instructions issued for this purpose. For the Iraqi or foreign investor to act in other parts of the housing project throughout the period of leave under the terms of the agreement with him. He pointed out that they have the right to lease land and property from the State, private and mixed sectors for the purpose of the establishment of investment projects by for no more than the duration of the leave, which does not exceed a duration of fifty years subject to renewal, taking into account the nature of the project and the economic feasibility of it.
And granted the right to investment authority for the leave the agreement with the Iraqi or foreign investor on the project to return to the State or Territory or the preservation of non-regular in the territory, after the expiration of the leave and the conditions contained in the agreement with him. It allows the Iraqi or foreign investor to transfer the ownership of the investment project in whole or in part during the period of leave to any Iraqi or foreign investor to another new investor continue to work on the project in the same jurisdiction or in another jurisdiction, after the approval of the donors leave, and new investor replaces an investor Previous rights and obligations under this law and the provisions of the agreement with the investor mentioned in the case of transfer of an Iraqi investor or foreign ownership of the project during the period of enjoyment of benefits, facilities and guarantees granted to him, the new investor continue to enjoy until the expiry of that period.
The law exempted from the special procedures of State for the rental of real estate investor, Iraqi or foreign, for the purposes of the establishment of investment projects under the Act from the provisions of law on the sale and rental of state funds No. (32) for the year 1986 or any other law that replaces it, is set the bases for calculating the rent, according to a regulation issued for this purpose, as well as private rental and rental of State properties for Iraqi and foreign investor for the purposes of the establishment of housing projects under this article.
The law provided for the formation of local investment in the regions and governorates not organized in a region which enjoys the moral and represented by its President and is financed by the region or province and have the powers granted investment licenses, investment planning and investment promotion, and have the right to open branches in areas under its control in coordination with the national investment to ensure the proper application of the law.
The Authority is headed by a staff member with expertise and competence rank of director general appointed for a period of (5) years with the proposal of the conservative non-regular in a territory with the consent of the Council of Ministers and shall be Chairman of the Board of Directors. The President appoints the Vice-degree assistant general manager for five years by region or province that are not organized in a territory, and is Vice-Chairman of the Board of Directors, and the Authority Board of Directors consists of seven members, including chairman and his deputy. Appointed by the Territory and the conservative non-regular in a territory of two staff members from the region or province in the territory of non-regular, workers of the constituencies with an interactive, functional grades for less than the director, as part-time members of the Governing Council for three years.
The law dictated, trading in the Iraqi market for securities, equities and bonds listed in it and gain membership in the private equity and mixed, but it does not prevent the existence of real estate as an asset of the companies mentioned.
On the applications for registration of companies or investments referred to a law that when an application was rejected, the owner can request reconsideration by the President of the region or province is part of a region within fifteen days of notification of the rejection decision, and the head of the body concerned to take action on the request within seven days from the date of registration in his office. The petitioner may appeal to the National Investment Commission within fifteen days from the date of rejection, the body deciding on the objection within fifteen days from the date of registration in the office of President of the National Commission for Investment.
If rejected by the National Investment Commission an application was submitted to it, petitioner request the Tribunal to reconsider it within fifteen days of notification of the decision and the Commission should decide on the request within seven days from the date of registration in the Office of the Chairman, whose decision shall be capable of objection the Council of Ministers within fifteen days from the date notification.
The Law added a new article to Chapter VII, provides compelling the Ministries of Finance, Municipalities and Public Works and the Municipality of Baghdad and in provincial and municipal bodies and the non-related to the Ministry to provide the land and real estate suitable for the establishment of investment projects and inform the national digits, area, ownership and gender and their uses, The National Commission allocated to Iraqi or foreign investors , according to the system proposed by the National Authority and with the consent of the Council of Ministers.
And the provisions of this law will apply on mixed-sector projects and private-sector and working at the request of management and approval of the Authority without retroactive effect. The projects include the public sector contracted for rehabilitation or operation with the private sector and the mixed benefits and facilities and all guarantees contained in the law. And the reasons for this law, it was pointed out that it comes "in order to facilitate and organize the work in the National Organization for investment, and create a favorable investment climate in Iraq, especially in the housing sector, the removal of legal obstacles that impede it, which will reflect positively on the accelerating process of economic development and reconstruction in Iraq, initiated this law. "
Presidential Council endorses the Consumer Protection Law
It also ratified the Iraqi presidency , today, the Consumer Protection Lawt, to ensure that basic consumer rights and protection of the illicit practices that lead to damage, and raise consumer awareness and prevent any act contrary to the rules of import, production or marketing of goods or detract from the benefit or lead to mislead the consumer.
This law applies to all natural and legal persons who are manufacturing, processing, sale or purchase, marketing, import or provide services or advertising.
The Law provided for the formation of the so-called "Consumer Protection Board" has the moral personality and financial and administrative independence linked to the Council of Ministers. The Council is chaired by a full-time person with experience and competence in matters relating to consumer protection and holds a university degree, at least initially. The rank of Undersecretary.
The Council consists of members of the rank of director general representing the ministries of industry and minerals, trade, health, agriculture and communications. And members of the highly expert representing the Ministry of the Environment and the Directorate General of Customs and the General Authority for Tourism and the Central Agency for Standardization and quality control, as well as representatives of the Iraqi Federation of Industries and the Federation of Iraqi Chambers of Commerce and one of the agricultural associations, along with three members representing the private sector.
The board shall develop policies and action programs to protect consumer rights organization and raise the level of consumer awareness and to receive and investigate complaints and take appropriate decisions and recommendations in the matter and direct warning to the offender must remove the violation within seven days from the date of notification or trigger its end and the continuation of the violation. And is based on the Council in warning of reports of commissions of inspection.
The Council shall also examine draft laws concerning the consumption and the consumer and to make observations in respect thereof and conducting studies, research and building the information base on consumer protection and definition to the functions and terms of reference and objectives of consumer protection associations and to help in raising awareness of consumer rights and the Council enlisted the expertise and efficiency of state employees or others, whether they are natural or legal persons for wages or bonuses by the Board, as well as the formation of committees checkpoint its headquarters in Baghdad, with branches in the governorates of Iraq. The committees shall be composed of members by the relevant terms of reference on the protection of the consumer and the Council allocated a special budget of the General Budget of the State.
The responsibility of the inspection committees see the specifications of goods and control over the storage conditions in stores and venues during working hours or after the provider and the advertiser to cooperate fully in this matter and report the competent authorities for goods damaged and not eligible for health and safety and follow its procedures in coordination with relevant ministries, as well as to reporting breaches to the Council.
The law provides that the customer has the right to obtain all information relating to the protection of legitimate rights and interests and specifications of goods and identify the proper methods to use or how to receive the service as the official language approved and guarantees for the items that require nature of such security for such period as may be agreed with the processor without loading additional expenses.
For the consumer, all with an interest in the absence of access of information provided in this Article be returned in whole or in part to the supplier and to seek compensation before the civil courts for damage caused to him or his money because of it, as well as access to after-sales service in accordance with the agreement with the equipped and freedom to choose good or service offered for the price without any interference from the processor.
And about the duties of the supplier and the advertiser, the text of the law are binding to ensure that you install the data, specifications and the components of the product, especially beginning and end of the power and the country of origin before it is put on the market or prior to the sale or purchase or advertising and comply with the specifications of Iraq or global standard to determine the quality of the goods imported or manufactured locally shall be the Central Agency for Standardization and Quality Control is the reference for this purpose with the use of animate regarding relationship.
Third: To take the name and business address and fundamentalism in the records of the competent authorities and keeping records of approved activities and maintain receipt sale and purchase or reproduce, display or presented to the competent official authorities at the request or to enable them to be found in the place without any opposition. constrictive as not to promote any means of media, publishing and advertising of the product or service that the specifications are available for local or international standard adopted, and to allow for official animate the relationship may inspect and search at the work place to obtain samples of the reservoir and displayed, in order to conduct tests for the formally accredited to determine suitability for human consumption.
The Law prohibits the provider and declared the practice of fraud and deception, fraud and concealment of material fact composed of approved standards in goods and all services or the use of force or the reluctance with inspection committees and representatives of official bodies animate the relationship and prevent them from carrying out their duties entrusted to them or obstructing by any means, production, sale, display or Declaration for goods and services contrary to public order or morals, or obscure, or alter or remove the expiration date or distortion and repackaging products damaged or expired canisters and covers that carry power to a different truth and misleading consumer.
The law is punishable by imprisonment for a period of not less than three months or a fine of not less than one million dinars, or both Any person who violates the provisions of Article (9) of thisLaw.
Second: Imprisonment for a term not exceeding three months or a fine of not more than a million dinars, or both Any person who violates the provisions of Articles (7 and 8) of thisLaw.
Third: Detective granted for any crime punishable under the law a reward of not less than one hundred thousand Dinars and not more than one million dinars to pay the party that is relevant if it leads to them telling the news to gain a conviction and the degree of resolution bits. under the law the goods and services dealt with by the supplier or marketer or advertiser of quality standards and a mechanism of supply and demand in relation to prices and production.
On the reasons for the ratification of this consumer protection law, the Presidency explained that it comes "in order to protect the consumer and adoption of the principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of fraud and industry manipulation, industrial packaging and is listed by the data and specifications"
http://www.iraqdirectory.com/DisplayNews.aspx?id=11223