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The constitutional terms of the DFSA



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The DFSA is a body corporate established under Dubai Law.

The DFSA shall have its own constitutional provisions, which shall incorporate the following provisions of Schedule 2, and which shall not be inconsistent with these provisions:

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