• Part 8: Part 8: Powers of the QFC Court

    • Article 40 - Applications of the QFC Court

      (1) An Interested Person may apply to the QFC Court to take, in respect of a Foundation, any of the actions specified in this Part.
      (2) Where the QFC Court considers that a Person's interest in a Foundation is sufficiently close that the person ought to be treated as an Interested Person, the QFC Court may determine that the Person is an Interested Person for the purposes of these Regulations.
      Derived (as from 22nd September 2016).

    • Article 41 - Power of the QFC Court to Order Compliance

      (1) If the QFC Court is satisfied that, in respect of a Foundation, a Person has failed to comply with —
      (A) a requirement of these Regulations, Rules, or the Constitution; or
      (B) an obligation imposed on the person by these Regulations, Rules, or by the Constitution,
      the QFC Court may, by order, require the Person to comply with the requirement or obligation.
      (2) If the QFC Court is satisfied that a Foundation, acting through its Council, has failed to carry out its objects or any of them, the Court may, by order, require the Foundation to do so.
      (3) An order under this section may specify the action the Person or Foundation is required to take.
      Derived (as from 22nd September 2016).

    • Article 42 - Power of the QFC Court to Order Amendment to the Constitution

      (1) The QFC Court may order the amendment of the Constitution if the Court is satisfied —
      (A) that the change will assist the Foundation to administer its assets or to attain its objects; or
      (B) that those objects are no longer attainable and that the change will assist the Foundation to attain objects as near as reasonably possible to those objects.
      (2) Without limiting subsection (1), the QFC Court may make an order under subsection (1) in the event that a Foundation does not have a valid Constitution or that the terms of its Constitution cannot be readily ascertained or are otherwise incomplete.
      Derived (as from 22nd September 2016).

    • Article 43 - Power of the QFC Court to Give Directions

      (1) This section applies if the QFC Court is satisfied —
      (A) that if it gives a direction it will assist a Foundation to administer its assets or to carry out its objects; or
      (B) that it is otherwise desirable for the QFC Court to give a direction.
      (2) The QFC Court may give a direction as to —
      (A) the meaning and effect of a provision or term in the Constitution;
      (B) the manner in which the Council of the Foundation is required to carry out the administration of the Foundation's assets or the carrying out of its objects;
      (C) the functions of the Council of the Foundation or of any of its Members;
      (D) the functions of any other Person appointed under the Constitution;
      (E) whether a Person is a Beneficiary;
      (F) the rights of Beneficiaries under the Foundation as between themselves or as between themselves and the Foundation; or
      (G) such other matters as the QFC Court considers relevant to the Foundation, its Constitution, the administration of its assets or the carrying out of its objects.
      (H) The provision of a copy of the Constitution to a particular person.
      (3) The QFC Court may, in addition to giving a direction under subsection (2), make such an order as it thinks fit to give effect to the direction.
      Derived (as from 22nd September 2016).

    • Article 44 - Power of the QFC Court to Protect Interests Under a Foundation

      The QFC Court may by order appoint a Person to protect the interests of a person which the Court is satisfied is or may become a beneficiary under a Foundation, where —

      (1) the person is unborn; or
      (2) the Court is satisfied that the person is unable to act on their own behalf.
      Derived (as from 22nd September 2016).

    • Article 45 - Power of the QFC Court to dismiss or appoint a Registered Representative

      (1) If the QFC Court is satisfied that it is in the interest of a Foundation to do so, it may order
      (A) the removal of the Registered Representative; or
      (B) the appointment of a Person to be the Registered Representative,
      or do both.
      Derived (as from 22nd September 2016).

    • Article 46 - Power of the QFC Court to Take Action on Behalf of Others

      (1) This section applies where the QFC Court is satisfied, in respect of a Foundation, that a Person has failed to comply with —
      (A) a requirement of these Regulations, Rules, or the Constitution; or
      (B) an obligation imposed on the person by these Regulations, Rules or the Constitution.
      (2) The QFC Court may, order the QFC Authority to comply with the requirement or obligation on behalf of the Person who has failed to do so.
      (3) The QFC Court must not do so unless it is satisfied —
      (A) that to do so will assist the Foundation in the administration of its assets or the attainment of its objects; or
      (B) that it is otherwise desirable that it should do so.
      (4) Where the QFC Court does so, its order has the same effect as if it were an action taken by the Person required to comply with the requirement or obligation.
      Derived (as from 22nd September 2016).

    • Article 47 - General Power of the QFC Court in respect of Orders

      (1) An order made by the QFC Court under this Part in respect of a Foundation may, in particular, provide for the appointment or removal of a Person appointed under the Constitution.
      (2) Any order made by the QFC Court under this Part —
      (A) may be made on such terms; and
      (B) may impose such conditions,
      as the QFC Court thinks fit.
      Derived (as from 22nd September 2016).