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  • PRS 5.2 The creation and maintenance of the Register

    • PRS 5.2.1

      The Stabilisation ManagerG must, before carrying out any Price StabilisationG :

      (a) create a register to record the details relating to the Price StabilisationG as required by this chapter; and
      (b) establish and implement systems and controls to keep the register updated.

      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]

    • PRS 5.2.2

      The Stabilisation ManagerG must ensure that the register contains either on a real-time or daily updated basis the following information:

      (a) the names and contact details of all Stabilisation AgentsG appointed by him;
      (b) details of the appointment of each Stabilisation AgentG , including the date of the appointment;
      (c) the general terms and instructions (including details of the price floor and Stabilisation WindowG ) determined by the Stabilisation ManagerG for his Stabilisation AgentsG and the date and time of the communication, variation or revocation of that information and instructions;
      (d) details of all correspondence passing between the Stabilisation ManagerG and his Stabilisation AgentG relating to the Price StabilisationG , including all instructions and variations or revocation of appointments;
      (e) each and every transaction undertaken by the Stabilisation ManagerG and Stabilisation AgentG in the course of the Price StabilisationG , including not but limited to the following transaction details:
      (i) the type of Eligible SecuritiesG ;
      (ii) the price;
      (iii) the size;
      (iv) whether the transactions were undertaken on or off the central order book of the relevant Authorised Market InstitutionG ;
      (v) the date and time;
      (vi) details of the counterparty (if known); and
      (vii) details of the allotment of the Eligible SecuritiesG .

      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]
      [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

      • PRS 5.2.2 Guidance

        1. PRS Rule 5.2.2 (e) (vi) acknowledges that some market structures, for example anonymous order books or anonymous indications of interest, cause the identity of counterparties to sometimes be unknown prior to the effecting of transactions.
        2. PRS Rule 5.2.2 also accepts that some participants in the Price StabilisationG may have accrued uneconomic positions during stabilisation and therefore permits a single transaction, probably at the end-of day, to 'square-off' the positions between participants. The terms on which these transactions be carried may often be agreed in the terms of engagement between the Stabilisation ManagerG and his Stabilisation AgentsG . The DFSAG may when inspecting records kept relating to stabilisation seek the rationale for any of these transactions and the price at which they were conducted.

        Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]
        [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

    • PRS 5.2.3

      The Stabilisation ManagerG must keep the register in the English language and keep it in a location that would allow for it, or a certified copy, to be available within a reasonable time to any person permitted by these RulesG to inspect it.


      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]

      • PRS 5.2.3 Guidance

        Reasonable time generally means no more than three business days from the time of request.


        Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]

    • PRS 5.2.4

      The following persons are permitted to inspect the register upon written request:

      (1) the DFSAG ;
      (2) the Authorised Market InstitutionG upon which the relevant SecuritiesG are traded; and
      (3) any other person that the DFSAG considers appropriate.

      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]
      [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

    • PRS 5.2.5

      During the Stabilisation WindowG and within three months from the end, the Stabilisation ManagerG must, on any business day, permit the IssuerG of the Eligible SecuritiesG to which this chapter applies to inspect that part of the register kept in accordance with PRS Rule 5.2.2(e).


      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]
      [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

    • PRS 5.2.6

      The Stabilisation ManagerG must keep the register for a period of six years from the end of the Stabilisation WindowG .


      Derived from DFSA RM21/2005 (Made 1st August 2005). [VER1/08-05]