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  • Part 1: General

    • 1. Title

      This Law may be cited as the “Investment Trust Law 2006”.

    • 2. Legislative authority

      This Law is made by the Ruler of Dubai.

    • 3. Application of the Law

      This Law applies in the jurisdiction of the Dubai International Financial Centre.

    • 4. Date of Enactment

      This Law is enacted on the date specified in the Enactment Notice in respect of this Law.

    • 5. Commencement

      This Law comes into force on the date specified in the Enactment Notice in respect of this Law.

    • 6. Interpretation

      The Schedule contains interpretative provisions and a list of defined terms used in this Law.

    • 7. Application of other Laws

      (1) Subject to (2), if any provisions of this Law conflict with the provisions of any other law, the provisions of this Law prevail, unless otherwise provided.
      (2) The provisions of the Collective Investment Law 2010 prevail over the provisions of this Law, unless otherwise provided either in this Law or in the Collective Investment Law 2010.
      (3) The Trust Law 2005 does not apply to a person in respect of an express trust created under this Law.

    • 8. Administration of this Law

      This Law and any legislation made for the purposes of this Law is administered by the DFSA.

    • 9. The power of the DFSA to make Rules

      (1) The DFSA Board of Directors may make Rules for the purposes of this Law pursuant to the power conferred upon it under Article 23 of the Regulatory Law 2004.
      (2) Where any legislation made under this Law purports to be made in the exercise of a particular power or powers, it shall be taken also to be made in the exercise of all powers under which it may be made.

    • 10. Consultation

      The DFSA shall publish draft Rules in the manner prescribed under Article 24 of the Regulatory Law 2004.

    • 11. Waivers and Modifications of the Rules

      The DFSA may by written notice provide that one or more provisions of the Rules either:

      (a) shall not apply in relation to a person; or
      (b) shall apply to a person with such modifications as set out in the written notice,

      as provided for in Article 25 of the Regulatory Law 2004.