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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
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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(1 version)
Jul 14 2013 onwards

AMI 8.1.3

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.

For the purposes of determining whether a PersonG is a ControllerG , shares, voting rights or rights to acquire shares or voting rights that a PersonG holds, either alone or with an AssociateG , in an Authorised Market InstitutionG or a Holding CompanyG of that institution are disregarded if:

(a) the shares are held for the sole purpose of clearing and settling within a short settlement cycle;
(b) the shares are held in a custodial or nominee capacity and the voting rights attached to the shares are exercised only in accordance with written instructions given to that PersonG by another PersonG ; or
(c) the PersonG is an Authorised FirmG or a Regulated Financial InstitutionG and it:
(i) acquires a holding of shares as a result of an underwriting of a share issue or a placement of shares on a firm commitment basis;
(ii) does not exercise the voting rights attaching to the shares or otherwise intervene in the management of the issuer; and
(iii) retains the holding for a period less than one year.
Derived from RM118/2013 [VER15/07-13]