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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Glossary Module (GLO) [VER44/07-19]
GLO 2 Glossary
[ P ] [Parent—Public Sector Entities]
Public Property Fund
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • [ P ] [Parent—Public Sector Entities]

    • Parent

      A Holding Company.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] RM162/2015 (Made 9th December 2015). [VER34/02-16]

    • Partner

      In relation to an Undertaking which is a Partnership, a Person occupying the position of a partner, by whatever name called.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Passported Fund

      Has the meaning given in FPR section 1.3.

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Partnership

      Any partnership, including a partnership constituted under the law of a country or territory outside the DIFC, but not including a Limited Liability Partnership.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Permanent Health Insurance

      Has the meaning given in GEN Rule A4.1.2(d).


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Permanent Share Capital

      Ordinary paid-up share capital or similar shareholders' or members' equity, including retained earnings, however called.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Permitted Third Party [Deleted]

      [Deleted] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Person

      A Person includes any natural person, Body Corporate or body unincorporated, including a legal person, company, Partnership, unincorporated association, government or state.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Personal Account Transaction

      A transaction undertaken by an Employee of an Authorised Firm in a Investment, other than:

      (a) a transaction in a government and public Security;
      (b) a transaction in a life policy; or
      (c) a discretionary transaction if there is no prior communication with the Employee and the discretion is not exercised by the Authorised Firm.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Personal Exempt Offer [Deleted]

      [Deleted] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Persons Undertaking Key Control Functions

      Persons undertaking compliance, risk management, internal audit and similar control functions.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • PFN

      The Prescribed Forms and Notices module of the Rulebook.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • PIB

      The Prudential — Investment, Insurance Intermediation and Banking module of the Rulebook.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • PIN

      The Prudential — Insurance Business module of the Rulebook.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Policy Benefit

      An amount payable under an insurance contract as a result of the occurrence of an event insured under the contract.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Policyholder

      Includes a potential policyholder.

      Derived from DFSA RM180/2016 (Made 19th June 2016) [VER36/08-16]

    • Politically Exposed Persons (PEP)

      Means a natural person (and includes, where relevant, a family member or close associate) who is or has been entrusted with a prominent public function, including but not limited to, a head of state or of government, senior politician, senior government, judicial or military official, ambassador, senior executive of a state owned corporation, or an important political party official, but not middle ranking or more junior individuals in these categories.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Potential Future Credit Exposure (PFCE) [Deleted]

      [Deleted] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Practice Note

      Guidelines issued from time to time by the DFSA to assist a Registered Auditor in applying a relevant standard.

      [Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Preliminary Findings Letter [Deleted]

      [Deleted] DFSA RM110/2012 (Made 23rd December 2012). [VER29/12-12]

    • Preliminary Notice

      a written notice given by the DFSA to a Person pursuant to paragraph 4(1) of Schedule 3 to the Regulatory Law 2004.

      [Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Premium Liability

      The liability referred to in PIN Rule 5.4.7.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Price Information Provider

      (1) In CIR, has the meaning given to that term in CIR Rule 13.9.4(2).
      (2) In AMI, has the meaning given to that term in AMI Rule A2.1.2(2).
      Derived from DFSA RM221/2018 (Made 22nd February 2018). [VER42/12-18]

    • Price Sensitive Information

      Information of a type which is liable to cause substantial movement in the price of Securities or (in the case of Debentures) to affect significantly the ability of the Issuer to meet its commitments.

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Price Stabilisation

      The activity of stabilising the price of an Eligible Security in the manner described in the PRS Module.

      [Added][VER4/08-05]
      [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

    • Principal Representative

      An individual designated by a Representative Office in accordance with REP.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM68/2009 (Made 3rd January 2010). [VER22/01-10]

    • Principle

      (1) In relation to an Authorised Firm or Authorised Individual, a principle prescribed in GEN chapter 4.
      (2) In relation to an Audit Principal, a principle prescribed in AUD section 2.6.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Equity Fund

      Has the meaning given in CIR Rule 3.1.6

      [Added][VER8/04-06]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]

    • Private Fund [Deleted]

      [Deleted] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Placement

      An Offer made to a Person who is likely to be interested in the Offer having regard to:

      (i) previous contact between the Person making the Offer and that Person;
      (ii) a professional or other connection between the Person making the Offer and that Person; or
      (iii) statements or actions by that Person that indicate that he is interested in Offers of that kind.

      [Added] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Private Property Fund [Deleted]

      [Deleted] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Trust Company

      Means a body corporate the purpose of which is solely to provide trust business services in respect of a specific trust or trusts:

      (a) of which a Family Member of a Single Family or a Family Entity related to a Single Family is the settlor; and
      (b) the beneficiaries are all:
      (i) charities; or
      (ii) Family Members, Family Entities, or Family Fiduciary Structures of that Single Family.
      [Added][VER7/01-06]
      [Amended] DFSA RM60/2008 (as from 2nd September 2008). [VER21/09-08]

    • Privileged Communication

      A privilege arising from the provision of professional legal advice and any other like privilege properly applicable at law to the communication in question, but does not include a general duty of confidentiality.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Professional Client

      A Client specified under COB Rule 2.3.3.

      [Added] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] DFSA RM151/2015 (Made 11th February 2012). [VER33/04-15]

    • Professional Investor [Deleted]

      [Deleted] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Profit Equalisation Reserve

      Represents the amount appropriated out of the Mudaraba income, before allocating the Mudarib's share, in order to maintain a certain level of investment returns for investment account holders and to increase owners' equity.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Profit Sharing Investment Account (PSIA)

      An account or portfolio managed:

      (a) in relation to property of any kind, including the currency of any country or territory, held for or within the account or portfolio;
      (b) in accordance with Shari'a and held out as such; and
      (c) under the term of an agreement whereby:
      (i) the investor agrees to share any profit with the manager of the account or portfolio in accordance with a predetermined specified percentage or ratio; and
      (ii) the investor agrees that he alone will bear any losses in the absence of negligence or breach of contract on the part of the manager.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Promote

      In relation to a Passported Fund, has the meaning given in FPR section 1.3.

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Property

      (1) In relation to AML, has the meaning given in Articles (1) and (2) of the U.A.E. Federal Law No.20 of 2018; and
      (2) In relation to Property Investment Crowdfunding, has the meaning given in GEN Rule 2.29.1(7).
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Fund

      Has the meaning given in CIR Rule 3.1.7

      [Added] [VER8/04-06]
      [Amended] DFSA RM61/2008 (Made 5th November 2008). [VER5/11-08]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]
      [Amended] RM162/2015 (Made 9th December 2015). [VER34/02-16]

    • Property Related Assets

      Assets which are Shares, Debentures or Warrants which are issued by a Body Corporate, a substantial activity of which relates to investment in Real Property and Certificates which confer rights in respect of such Investments.

      [Added][VER8/04-06]

    • Property Investment Crowdfunding

      Has the meaning given in GEN Rules 2.29.1(5) and (6).

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Investment Crowdfunding Platform

      An electronic platform or a facility referred to in GEN Rules 2.29.1(5) and (6).

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Investment Crowdfunding Operator

      A Person who is authorised under a Licence to operate a Property Investment Crowdfunding Platform.

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Prospectus

      (1) In relation to an Offer of Securities to the Public, a document containing the information specified in Article 15 of the Markets Law 2012 and the MKT Rules, and includes a Supplementary Prospectus.
      (2) In relation to a Fund, a document containing the information prescribed under the Collective Investment Law 2010 and the CIR Rules, includes a Short Form Prospectus or Supplementary Prospectus.
      [Added] DFSA RM19/2005 (as from 19th April 2005).[VER3/04-05]
      [Amended][VER8/04-06]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Prospectus Offer

      An Offer of Securities referred to in Article 14(4)(a) of the Markets Law 2012.

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]
      [Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Protected Cell Company

      A company incorporated as, or converted into, a Protected Cell Company in accordance with the provisions of the Regulations made under the DIFC Companies Law.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Protection Buyer

      The Counterparty to a Credit Derivative contract that wishes to reduce the exposure to Credit Risk by protecting itself from potential loss suffered as a result of deterioration in the creditworthiness of the reference assets.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Protection Seller

      The Counterparty to a Credit Derivative contract that wishes to take on Credit Risk arises from potential loss suffered as a result of deterioration in the creditworthiness of the reference assets in return for compensation from the Protection Buyer.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Providing Accountancy Services [Deleted]

      [Deleted] DFSA RM173/2016 (Made 10th February 2016). [VER35/04-16]

    • Providing Compliance Services [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Providing Credit

      Has the meaning given in GEN section 2.5.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Providing Custody

      Has the meaning given in GEN section 2.13.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Providing Fund Administration

      Has the meaning given in GEN section 2.24

      [Added][VER8/04-06]

    • Providing Legal Services [Deleted]

      [Deleted] DFSA RM173/2016 (Made 10th February 2016). [VER35/04-16]

    • Providing Market Information Services [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Providing Money Services

      Has the meaning given in GEN section 2.6.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Providing Trust Services

      Has the meaning given in GEN section 2.23

      [Added][VER7/01-06]

    • PRU

      The Prudential Returns module of the Sourcebook.

      Derived from Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Prudential Context

      In relation to activities carried on by a Authorised Firm, the context in which the activities might have, or might reasonably be regarded as likely to have, a negative effect on:

      (a) confidence in the financial stability of the DIFC;
      (b) the ability of the Authorised Firm to meet the applicable DFSA requirements and standards relating to the Authorised Firm's financial resources; or
      (c) the fitness and propriety of the Authorised Firm to remain authorised.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • PSIA

      Profit Sharing Investment Account.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • PSIAr

      Profit Sharing Investment Account received on a restricted basis.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • PSIAu

      Profit Sharing Investment Account received on an unrestricted basis.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Public Appearance

      Any participation in an interview which is part of a seminar, forum, radio, television, website, newspaper, journal, magazine, or other periodical or other public speaking activity, or the writing of an article for a website, newspaper, journal, magazine or other periodical in which an Investment Analyst makes a recommendation or offers an opinion concerning an Investment.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Public Fund

      (1) In relation to a Passported Fund, has the meaning given in FPR section 1.3; and

      (2) In any other case, has the meaning given in Article 16(1) of the Collective Investment Law 2010.

      [Added] [VER8/04-06]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]
      [Amended] DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Public Listed Company

      Has the meaning given in Schedule 1 to the Regulatory Law 2004.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Public Listed Company Auditor's Report

      A report referred to in MKT Rule 5.2.7(b).

      [Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Public REIT

      A Public Fund that is a Real Estate Investment Trust (REIT).

      Derived from DFSA RM221/2018 (Made 22nd February 2018). [VER42/12-18]

    • Public Property Fund

      Is a Public Fund which is also a Property Fund.


      [Added] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]

    • Public Sector Entities

      Bodies owned by central or regional governments or Local Authorities which perform regulatory and other non-commercial functions.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]