An authority called The Emirates Investment Authority shall be established as a public authority reporting directly to the Cabinet. The authority shall be the only body in charge of investment and reinvestment of the funds allocated for investment which the Cabinet assigns for the said purpose.
The authority shall have a Board of Directors constituted of not less than five members and not more than seven members, among which the Chairman and the Vice-Chairman will make up two of the members. The Board of Directors shall be the supreme authority that undertakes the supervision of the management of the authority. The Chief Executive Officer, appointed as someone other than the members of the Board of Directors, shall undertake the management of the authority. All funds and assets that the authority shall undertake the preserving, management or investment thereof, shall be deemed public funds owned by the State.
Federal Law by Decree No. 13 of 2009 amends certain provisions of Federal Law No. 4 of 2007. Articles amended are as follows: (1, 2, 4, 13, 14, 24, and 27)
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