It was established in accordance with the provisions of the Libyan Commercial Law and the Law No. (65) for the year 1970 on the determination and supervision of certain provisions concerning trade and trade companies and the law No. 9 of 1992 regarding the exercise of economic activities as amended by Law No. (21) of 1369, (1) for the year 1372 and its executive regulations issued by the General Committee Resolution No. (171) for the year 1374 and the subsequent executive decisions.