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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Collective Investment Rules (CIR) [VER25/07-19]
Part 6 Rules Specific to Specialist Classes of Domestic Funds
CIR 13 Additional Requirements for Specialist Funds
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • CIR 13.4.16

    (1) This Rule applies to a Related Party TransactionG of a Public Property FundG that involves either:
    (a) services provided in the ordinary course of estate management of Real PropertyG of the FundG , including renovation and maintenance work; or
    (b) engaging a property agent to provide services to the FundG , including advisory or agency services in property transactions.
    (2) The Fund ManagerG , and if appointed, the TrusteeG , must ensure that if the value of the transaction is 5% or more of the most recent net asset value of the FundG as disclosed in the latest published audited accounts, it is entered into only with the prior approval of the oversight provider of that FundG .
    Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
    [Amended] RM158/2015 (Made 9th December 2015). [VER19/02-16]

    • CIR 13.4.16 Guidance

      The requirements in CIR Rule 13.4.16 are in addition to other requirements in these Rules applying to Related Party TransactionsG . For example, under CIR Rule 8.3.2, the Fund ManagerG must ensure the transaction is on normal commercial terms, is subject to UnitholderG approval if it represents 5% or more of the net asset value of the FundG and is disclosed to UnitholdersG .

      [Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]