UAE Commercial Transactions Law

Article 177 — Article (177)

Book Two: Commercial Obligations and Contracts · Part Four: Depositing in Public Warehouses

1. A warehouseman may not practice in any capacity, either for himself or for others, any commercial activity having for goods of the same kind as the goods which he is licensed to keep in his warehouse and issue instruments representing such goods. 2. The above provision shall apply if the person in charge of investing the warehouse is a company where one of its partners, who owns at least (10%) ten percent of its capital, practices a commercial activity included in the prohibition provided in Clause (1) above.

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