Legislation_en

and activities of RERA;
4. proposing the organisational structure and financial, administrative, and technical
bylaws regulating work within RERA and submitting them to the Executive Council
for approval;
5. supervising the activities of the executive body of RERA and appointing
RERA employees;
6. preparing the annual budget of RERA and submitting it to the Executive Council for
approval; and
7. exercising any other powers vested in him by the Executive Council or by any
resolution issued pursuant to this Law.
Article (8)
Pursuant to this Law, the following functions of the Department will be transferred to RERA:
1. regulating the work of real estate brokerages and real estate brokers;
2. conducting real estate studies and research;
3. managing and regulating real estate development escrow accounts; and
4. regulating and supervising Owners Associations.
Article (9)
Subject to the provisions of Article (6) of this Law, RERA may, at its discretion, transfer
any of the Department’s employees working in real estate regulation.
Article (10)
In regulating its accounts and records, RERA will follow the principles and standards of
commercial accounting. The financial year of RERA will commence on 1 January and will
end on 31 December of each year, except that the first financial year will commence as
of the date this Law comes into force and will end on 31 December of the following year.
Article (11)
The financial resources of RERA will consist of:
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