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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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  Versions
(1 version)
 
Jul 14 2013 onwards

AMI 5.6.6

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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) The DFSAG may, on written application by an Authorised Market InstitutionG , dispense with the requirement in Rule 5.6.5 for public consultation where:
(a) any delay resulting from public consultation is likely to be detrimental to the interests of the DIFCG markets; or
(b) either the proposed amendment:
(i) is purely administrative or immaterial; or
(ii) the Authorised Market InstitutionG can demonstrate to the satisfaction of the DFSAG that it had taken into account the views and interests of its MembersG and other stakeholders as appropriate in developing the proposed amendment; and
(c) the Authorised Market InstitutionG complies with the requirements in (2) or (3) as applicable.
(2) An Authorised Market InstitutionG which seeks to dispense with public consultation on the ground referred to in (1)(a) must lodge with the DFSAG a statement setting out:
(a) the text of both the proposed amendment and the Business RulesG that are to be amended:
(b) the reasons for proposing the amendment;
(c) the grounds on which it believes that a delay resulting from public consultation is likely to be detrimental to the DIFCG markets; and
(d) whether any rights or obligations of any MembersG of the Authorised Market InstitutionG or other participants on its facilities are to be materially adversely affected by the proposed amendment, and if so, what measures are proposed to address such concerns.
(3) An Authorised Market InstitutionG which seeks to dispense with public consultation on the ground referred to in (1)(b) must lodge with the DFSAG a statement setting out:
(a) the text of both the proposed amendment and the Business RulesG that are to be amended; and
(b) either:
(i) the reasons it believes that the proposed amendment is purely administrative or immaterial; or.
(ii) that it had taken into account the views and interests of its MembersG and other stakeholders as appropriate in developing the proposed amendment.
Derived from RM118/2013 [VER15/07-13]