Dubai: His Highness Sheikh Mohammed Bin Rashid Al Maktoum, in his capacity as Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued Decree No. 34 of 2019, under which the Victory Team establishment will henceforth operate under Dubai International Marine Club (DIMC).
According to the Decree, all functions, responsibilities, assets, funds and employees of the Victory Team establishment will be transferred to the DIMC. Additionally, all rules, policies and regulations that DIMC operates under will now be applied to the Victory Team establishment. Subsequently, DIMC will hold all the rights and obligations of the Victory Team establishment.
Pursuant to the Decree, Chairman of the Dubai Sports Council will issue a resolution appointing the Board of DIMC. The Dubai Government or Dubai Sports Council shall not be held responsible for any liabilities of the Victory Team establishment and DIMC will be solely responsible for such liabilities. The Board of DIMC will manage all liabilities incurred prior to the issuance of this Decree.
The new Decree annuls Decree No. 12 of 1996 on the establishment of the Victory Team establishment, the Order dated December 25, 1996 for appointing the Chairman of the Victory Team establishment, the resolutions issued by the Chairman of Dubai Sports Council dated January 30, 2017 and April 23, 2019 that formed the Board of the Victory Team establishment and any other legislations that contradict or challenge its articles.
