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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Conduct of Business Module (COB) [VER34/01-20]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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(1 version)
Apr 1 2015 onwards

COB 2.3.5

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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) For the purposes of Rule 2.3.3(1)(a)(ii), a PersonG is a 'service-based' Professional ClientG if:
(a) the Financial ServiceG provided to that PersonG is Providing CreditG ;
(b) the PersonG is an UndertakingG ; and
(c) the Credit FacilityG in question is provided for use in the business activities of:
(i) the PersonG ;
(ii) a controller of the PersonG ;
(iii) any member of the GroupG to which the PersonG belongs; or
(iv) a joint venture of a PersonG referred to in (i)–(iii).
(2) In (1)(c)(ii), a controller is an individual who:
(a) owns a majority of the shares of the UndertakingG ;
(b) is able to appoint or remove a majority of the board members of the UndertakingG ; or
(c) controls a majority of the voting rights of the UndertakingG (or that of a Holding CompanyG of the UndertakingG ).
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]