Regulation No. 7 on the sale and lease of lands in the Aqaba Exclusive Economic Zone.

This Regulation is composed of 19 articles. Articles 1 and 2 deal with terms and definitions. Selling or leasing lands in the Aqaba EEZ shall be subject to the zoning of lands and buildings approved by the Board of Commissioners (art. 4). The Board may sell or allocate any of the Authority’s Lands to Governmental Bodies and worship homes (art. 5). Whoever purchases a land from the Authority in order to carry out a project thereon, shall be obliged to complete it within the period fixed by the Authority and not later than 9 years (art. 8). The Authority or the Developing Entity shall, as the case may be, obtain the approval of the Council of Ministries if the area of the land to be sold exceeds the 100 dunums (art. 9). Article 10 deals with the conditions contained in the Leasing Contract, including: (a) definition of rent and method of payment; (b) objectives of leasing; (c) guarantee for the compensation of eventual damage caused by the lessee; (d) the right of the Authority to acquire the facilities, plants and any improvements carried out on the leased land; and, (e) renovation of the leasing contract. Article 11 deals with the right of the Board of the Commissioners to sublease the leased land according to certain conditions. The sale or lease of lands shall be carried out by auction unless the Board decides otherwise for justifiable reasons (art. 12). The Authority shall monitor the contract compliance (art. 13). Article 14 deals with penalties and legal procedures to be taken against offences and violation of Articles 7 and 8 of this Regulation. The Authority can take the necessary arrangements and measures cooperating with the concerned authorities for the implementation of this Regulation (art. 17). The Board shall issue the directives and instructions necessary for the implementation of this Regulation (art. 19).