08.11.2005
Libyaninvestment.com

Article (1)

Economic activities are as follows:

1. Family activities
2. Tasharokiat
3. joint stock companies
4. corporations & public companies activities are according rules which does not contradict this law
5. article(2)
6. value of each share in joint stock companies does not exec LD.100 individual's participation as follows.

1. 4% of total of shares for companies whose capital, million dinars not more than 8% of total shares for each individual and branches.
2. 2% of total shares for companies capital
3. 1% of total shares for companies capital 2-4 million dinars. Max 2%
4. 0.5 % of total shares for companies capital 4 million dinars. Max 1% companies establishment in paras B - C - D through general contribution

Article (3)

Representative for granting permission for meeting to attend and should have no influence on decisions.

Article (4)

Accounts and balance sheet are subject to auditing by legal auditor.

Article (5)

GPC put measures for execution of public schemes according capital and number of share holders.

Article (6)

For individuals tasharokiat are formed for productive & services sectors including activities in education, training, health, import & export

Article (7)

Establishment contract should state method for distribution of profits, authorized person who sign on behalf of the tasharokiat according basis implemented by PGC and law no. 9 for 1985 to be applied.

Article (8)

Qualification and prevailing condition for performance of activities in education, training & Health are required education, training & health are required

Article (9)

Apparatus and equipments necessary for work may be imported

Article (10)

GPC may allow establishment of monetary market according rules

Article (11)

Any person contradicts rules of this law or submit incorrect information will be subject imprisonment and find equal double of profit achieved or LD.1000 which ever is greater

Article (12)

Tsharokiat and joint stock companies should settle its status according this law during 6 month from establishment date.

Article (13)

According GPC decision, rules of this law to be issued by GPC of economy & trade as follows:

1. to state activities approved which will be performed by individuals & tashakiat
2. minimum capital
3. regulation for hire of public utilities for economic activities
4. to state economic activities to be performed by arabs and Africans.

Article (14)

law no. 8 for 1999 to be cancelled concerning amendment of law no. 9 for 1992 concerning economic activities and any judgment contradicting this law to be cancelled.

Article(15)

This decision is applied from date of issue and to be published General peoples conference