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Dubai Financial Services Authority (DFSA): Contents

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Jul 5 2012 - Jul 13 2013Jul 14 2013 onwards

MKT 6.6.1



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

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

(1) For the purposes of Article 42(2) of the Law, a PersonG is hereby prescribed as a Connected PersonG of a Listed FundG if that PersonG :
(a) becomes a member of the Governing BodyG of the Listed FundG or an individual involved in the senior management of either the Reporting EntityG of the Fund or a controller of the Reporting EntityG of the Fund or the Trustee of the Fund; or
(b) owns or beneficially owns voting rights carrying more than 5% of the voting rights attaching to the UnitsG of the FundG or of the TrusteeG of the FundG .
(2) In (1), a PersonG is a controller of a Reporting EntityG if that PersonG (the first PersonG ), either alone or with the AssociatesG of that PersonG , controls the majority of the voting rights in, or the right to appoint or remove the majority of the BoardG of, the Reporting EntityG or any PersonG who has similar control over the first PersonG , including an ultimate controller of the first PersonG .
(3) For the purposes of determining whether a PersonG has control for the purposes of (1), any SecuritiesG held by that PersonG and his AssociatesG , including those in which that PersonG or AssociateG of the PersonG has a beneficial interest, are deemed as his SecuritiesG except where;
(a) any such SecuritiesG are held by that PersonG on behalf of another PersonG who is not an AssociateG of that PersonG ; or
(b) the PersonG does not have control over the voting rights attaching to the SecuritiesG because some other PersonG manages those SecuritiesG on a discretionary basis.
Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
[Amended] DFSA RM120/2013 (Made 14th July 2013). [VER4/07-13]