1. Pursuant to the provisions of this decree-law, a professional union shall be established called ‘Emirates Insurance Federation’, which shall have the juridical personality and legal capacity necessary to carry on all actions and dispositions that ensure achievement of its objectives. The Central Bank shall approve articles of association of the federation, which define its functions, responsibilities and relationship with the Central Bank. 2. All Insurance Companies, Reinsurance Companies, and Insurance-Related Professions shall become members of the Emirates Insurance Federation, in accordance with the controls and procedures to be determined by a resolution of the Board of Directors. Such federation shall establish committees for various insurance business and services practiced by the members.
Interpretation and application must be checked against the official text and current version.