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Schedule 2 The Regulatory Authority



The constitutional terms of the Regulatory Authority

The Regulatory Authority shall be established as a Body Corporate pursuant to powers granted to the Chairman under Dubai Law No.3 of 2002.

The Regulatory Authority shall have its own constitutional provisions, save that such provisions shall not be inconsistent with the following provisions of Schedule 2:

(a) the full legal title of the Regulatory Authority shall be "The Financial Services Regulatory Authority of the Dubai International Financial Centre";
(b) [the full legal title of the Regulatory Authority may be abbreviated in common usage to "DFSA";]
(c) the registered office of the Regulatory Authority is to be situated in the Emirate of Dubai;
(d) the Regulatory Authority may acquire, hold and dispose of Property of any description;
(e) the Regulatory Authority may make contracts and other agreements;
(f) the Regulatory Authority may receive and spend monies;
(g) the Regulatory Authority may, with the prior written consent of the Chairman, borrow monies and provide Security for such borrowings;
(h) the Regulatory Authority may agree in writing with the Chairman an amount of unsecured borrowing below which the prior written consent of the Chairman is not required;
(i) the Regulatory Authority may employ persons on such terms as it considers appropriate;
(j) the Regulatory Authority shall appoint and employ such persons as it shall deem necessary for it to be able to exercise its powers and perform its functions; and
(k) the Regulatory Authority may sue and be sued in its own name.