In the name of people,

The Presidency of the Republic.

In accordance to the provisions of Article fifty of the interim constitution, pursuant to the proposal of the Minister of Economy, and with the approval of the council of Ministries passed by the Revolutionary Command Council, the following Law has been promulgated.

The following expression shall have the meanings assigned to them:

Minister – Minister of Economy.

Register – Register of Commercial Agencies.

Directorate – Directorate General of Registration and Supervision of Companies.

Commercial Agency – Every Commercial work exercised by a person in Iraq in the capacity of an agent of natural or juristic person whether it is a commercial Agency or commission Agency or Commercial representation and all other agencies mentioned in the Code of Commerce and commercial Companies Law.

Agent – Natural or juristic person exercising any work of the agencies works described in this article.

License – Certificate issued by the register, allowing the Agent to practice the Commercial Agent to practice the Commercial Agency Works.

It is necessary for the agent that his name is registered in the register, and whoever satisfies the following terms is only registered:

1. To be an Iraqi Residing in Iraq.

2. To take for himself a Commercial place in Iraq for practicing his works which should be registered in the Directorate as a Commercial name or a Commercial address.

3. To be a member of one of the chambers of Commerce in Iraq, and satisfying legal qualifications and having completed twenty one years of his age.

4. Not convicted for a perpetration or a misdemeanor defecting honour unless his record is rehabilitated.

5. Known as honest and of good behaviour.

2- Citizens of Arab States and other Arabs are treated as Iraqis provided they satisfy the provisions contained in para (b.d.e.) of this article, and holding the legal qualifications and having completed twenty-one years of their age on condition of reciprocity.

3- It is necessary for companies to fulfill the following two terms:

1. That the place of its registration is in Iraq.

2. That all of its shares are owned by Iraqis nationals or citizens of Arab States and jointly and severally, on condition of reciprocity.

The Register shall consider the application during a period of thirty days from the date of its submission. The applicant may in the event of his application being refused appeal to the Minster within a period of fifteen days from the date of notification of such decision. The decision of the Minister in this respect shall be final.

2. The Registrar may cancel of refuse the registration of the agency if he finds that it contradict with the public interest. The interested persons may appeal to the Minister within a period of fifteen days from the date of their notification of the decision. The decision of the Minister in this respect shall be final.

The agent shall submit an application to renew his agency within sixty days from the first day of April of each year.

Part of the year shall be considered complete year provided that the period begins from the date of granting the license and ends with the end of the financial year.

2. If the renewal application not be submitted within the period mentioned in part 1 of this Art. The Registrar shall cross the name of the agent from the Register and cancel his agency unless the agency is not renewed for force majoure or other acceptable reason.

1. The Minister may exclude from the provision of Article two and four Agencies which require a special technical experience not available in Iraqis and citizens of Arab countries, by a notice to be published in the Bulletin of the Directorate General of Registration and Supervision of Companies.

2. By a notice published in the Bulletin issued by the Directorate of Registration has the right to exempt if necessary.

1. The State Organization and the establishment related to them and their agents from the provisions of Article 2 of the Law.

2. Citizens of Arab Countries from reciprocal condition mentioned in para 2 & 3 (b) of the said article.

1. the Agent must keep a special book free from any crossing out, error, or blanking out not required by the rules of book – keeping provided that if is legalized by the Notary public and endorsed by his stamp stating that the number of its pages and stamping every page thereof and that it should be presented to him at the end of every financial year for certifying the numbers of pages used during that year, the book shall be presented to the Notary public for indicating its end on its last page.

2. The agent shall state in his book the a mount of the commission accruing to him in and outside Iraq, provided that he discloses what amounts have been transferred to Iraq through the licensed banks, and the percentage of the commission on the transactions. The Agent must state in the book the amount of transactions concluded to the account of his principles as far as importation and exportation operations are concerned, including indicating the names and full addresses of the concerned parties.

3. The agent shall submit within sixty days the first day of April of each year a statement in duplicate for the commercial carried out by him during the year prior to the date of submitting the statement containing the total amounts as a result of practicing the commercial agency, the amounts actually received and the names of those who transfer the amount & mention the documents concerned.

The registrar has the right to accept the said statement within 3 months after the expiry of the period specified in this para if the agent produce an acceptable reason for such delay.

4. The agent should obtain the approval of the Central Bank of Iraq for keeping an account in the books or registers of persons, resident outside Iraq in accordance with the provisions of foreign Exchange Law.

1. The Registrar when accepting the application should register all relevant information in the name of the name of the agent in the register, including keeping a copy of his photograph. In the event that the agent is a company, then the photograph of the Managing Director.

2. The License shall be issued bearing the number and date of issue with the name of the agent, his address and photograph of the Managing Director of the Company.

3. The License shall only be delivered after the undertaking binding the agent to present the information’s required from him according to the provisions of this Law, or that may defined by or any other information to be determined by a notice published in the Bulletin of the Directorate.

The Registered agents should perform the provisions of Article two of this Law within a period of three months from the date of its publication in the Official Gazette.

The Registrar may consider the Commercial activity which is exercised in Iraq by a natural or juristic person, or any establishment, a commercial agency subject to the provisions of this Law, relying on this to the legal evidences, and his decision shall be subject to opposition to the Minister within a period of thirty days from the date of notification.

His decision shall be final in this respect.

It is eligible for the Directorate to control and supervise the exercise of the agency it may send clerks for inspecting and auditing the works of the gent.

Penalty not exceeding ten thousand Dinars or imprisonment for a period not exceeding five years, or both punishments, shall be lived on every one committing any of the following acts:

1. Performing any of the agency works before obtaining the License.

2. Not having submitted or refrained from submitting any statement of the statements stipulated in this Law, or the instructions issued accordingly or knowingly submitted a false statement.

3. Having breached the provision of this Law or the instructions issued accordingly in any way whatsoever.

Penalty not exceeding one thousand Dinars or imprisonment for a period not exceeding two years or both punishments, shall be levied on every one entrusted with a public service and responsible within the scope of his work committing any of the following acts:

1. Accepting or performing any formality of any agent contrary to the provisions of this Law.

2. Concealing an act committed against the provisions of this Law.

3. Any illegal act shall affect the authorization of the information shown in the register.

Clerks of the Directorate whose grated is not less than Superintendent shall be authorized to investigate ( by a nomination from the Minister and by decision from the Minister of Justice) the crimes described in this Law. The Director General of Registration and Supervision of Companies may request the investigation in these crimes be carried out by the Investigation Judge.

The Minister may issue instruction to facilitate the execution of the provisions of this Law.

The Minister may issue instructions to facilitate the execution according to this Law.

1. I.D. 1 for applin. Of commercial agency.

2. I.D. 15 for grant the license.

3. I.D. 10 yearly for ren. The license.

4. I.D. 1 for applin. Of copy of the license.

5. I.D. 1 for applin. Of correction of the register.

6. I.D. 2 for submitting the statement.

7. I.D. 1 for applin. Of information’s.

8. I.D. for applin. Of certificate or obtaining information.

9. I.D. 1 for any applin. Not mentioned in the above articles.

Law No. (23) of 1960 amended for regulating the commercial agencies, and the instructions issued accordingly relevant to the regulation of the agents affairs shall be cancelled.

This Law shall come into force from the date of its publication in the official Gazette.