Manama, October 20 (BNA) His Majesty King Hamad bin Isa Al Khalifa today issued Decree No. 108 of 2021 amending Article 1 of Decree No. 105 of 2021 regarding defining the competent authorities in accordance with Law No. 10 of 2006 regarding some tasks and competencies. The competencies of the relevant authorities in the field of oil and gas and the amendment of some provisions of Decree-Law No. 42 of 1999 regarding the establishment of the Bahrain Petroleum Company.
According to the decree, the second paragraph of Royal Decree No. 105 is replaced by the following:
As an exception to the provisions of the first paragraph of this Article, the Oil and Gas Holding Company shall be the competent authority responsible for appointing the boards of directors of companies engaged in business related to the oil industries and wholly owned by the State. And the selection of government representatives in the boards of directors and general assemblies of companies in which the state contributes a share in their capital.
The Oil and Gas Holding Company is also the competent authority stipulated in Article (2) of Law No. 10 of 2006 regarding some of the tasks and competencies of the relevant authorities in the field of oil and gas and the amendment of some provisions of Decree-Law No. 42 of 1999 regarding the establishment of the Bahrain Petroleum Company.
The Prime Minister and the Ministers – each within his jurisdiction – shall implement the provisions of this Decree, and it shall come into force immediately, and be published in the Official Gazette.
NS