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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
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  • Disregarded Holdings

    • AMI 8.1.3

      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]