SEC Implements Regulations For Auction Sale Of Special Vehicle Number Plates In Sharjah
H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, led the Sharjah Executive Council meeting at the Ruler’s Office. H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi was also present. The council decided to regulate the auction sale of special vehicle number plates in Sharjah, focusing on enhancing government operations and legislative frameworks.
The council concluded the first regular session of the twentieth annual term for municipal councils in Sharjah. This session will officially end on Thursday, 8 Muharram 1447 AH, which corresponds to July 3, 2025. During this interim period, general committees within municipal councils will continue managing their responsibilities.
A decision was made to regulate the auction sale of special vehicle number plates in Sharjah. This regulation involves plates designated by the Sharjah Police General Command. The police will oversee these auctions, setting conditions and regulations, specifying plate numbers and category codes, and contracting with specialised companies.
The decision also empowers licensed investment funds registered with the Securities and Commodities Authority to own and use real estate in Sharjah under specific regulations. Private investment funds owned entirely by UAE or GCC nationals can own real estate across all areas of the emirate.
Public investment funds are permitted to own real estate in all emirate areas and use it for approved usufruct sale projects. Private investment funds with units owned by non-UAE or non-GCC nationals can own real estate in projects approved for foreign sale and use it in approved usufruct sale projects.
The decision includes legal articles on ownership conditions, usufruct rights, investment fund registry management, powers of the Real Estate Registration Department, fees, data updates, suspension of fund transactions, and trading of private fund units.
The council's decisions aim to enhance integration across sectors serving the community while monitoring government departments' performance. These measures are part of broader efforts to improve governance and legislative frameworks within Sharjah.
With inputs from WAM
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