Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Collective Investment Rules (CIR) [VER24/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

Whole SectionText only Print Print Manager Link


  Versions
(2 versions)
 
Jul 11 2010 - Aug 20 2014Aug 21 2014 onwards

Guidance



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. Article 17 of the Law confers on the DFSAG the power to prescribe any type of Domestic FundG (i.e. a Public FundG , an Exempt FundG , or a Qualified Investor FundG ) as a "specialist class" of a Domestic FundG and in so doing apply any requirements as are suitable for that specialist class of FundsG . This Part sets out the requirements that apply to such a FundG by virtue of being a specialist class of FundG .
2. Most of the requirements that are set out in this part as applying to specialist classes of Domestic FundsG are generally in addition to the core requirements that apply to every Domestic FundG (see CIR Part 4). Further, depending on whether it is a Public FundG , an Exempt FundG , or a Qualified Investor FundG , the additional requirements in CIR Part 5 of this module would also apply to a specialist class of FundG .
3. A Qualified Investor FundG may be constituted as a specialist class of a Domestic FundG without being subject to most of the detailed requirements that would normally apply to such specialist classes of FundsG . However, there are some requirements which need to be met as the obligation to do so arises under the general provisions applicable to certain specialist classes of FundsG , regardless of whether such FundsG are Public FundsG , Exempt FundsG or Qualified Investor FundsG . An example is a FundG constituted as an Islamic FundG . While some of the detailed requirements such as the appointment of a Shari'a Supervisory BoardG do not apply to the Fund ManagerG of an Islamic Qualified Investor FundG (see IFR 6.2.1), the other general requirements such as ensuring compliance with Shari'aG requirements continue to apply to such FundsG and the Fund ManagerG .
4. The only specialist class requirements in this chapter that apply to a Qualified Investor FundG are those in Rule 13.6.3 and section 13.7 (Umbrella Funds).
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]