Home   Browse contents   View updates   Search  
     Quick search
Go
   

Whole SectionText only Print Print Manager Link


  Versions
(1 version)
 
Jul 5 2012 onwards

9. The DFSA powers to waive or modify the Law



Whole Section PDF

To view past versions of this module in PDF format, please visit the Archive.

(1) The DFSA may where it considers it appropriate or desirable in the interests of the DIFC to do so:
(a) on the application of a person; or
(b) with the consent of a person;
by means of a written notice provide that one or more provisions of this Law either:
(c) shall not apply in relation to such person; or
(d) shall apply to such person with such modifications as are set out in the written notice.
(2) A written notice may be given subject to conditions.
(3) A person to whom a condition specified in a written notice applies shall comply with the condition.
(4) The DFSA shall take such steps as necessary to bring the notice referred to in Article 9(1) to the attention of:
(a) those likely to be affected by it; and
(b) others who may be likely to become subject to a similar notice.
(5) The DFSA may:
(a) on its own initiative or on the application of the person to whom it applies, withdraw a written notice issued pursuant to Article 9(1); or
(b) on the application of, or with the consent of, the person to whom that notice applies, vary such a written notice.
(6) The DFSA maymake Rules in connection with the provision of a written notice under this Article, including Rules prescribing procedures for the making of applications and providing of consents.