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  • Interpretation and Application Rules 2005 (INAP)

    Click here to view earlier versions of Interpretation and Application Rulebook (INAP).

    Interpretation and Application Rulebook (INAP)
    Background to this Rulebook
    INAP Part 1:
    General provisions
    INAP Part 2:
    Rules of interpretation and application
    INAP Part 3:
    Publication of Rules and regulatory material
    Glossary:
    Definitions for all Rules     		   [ A ]
       [ B ]
       [ C ]
       [ D ]
       [ E ]
       [ F ]
       [ G ]
       [ H ]
       [ I ]
       [ J ]
       [ K ]
       [ L ]
       [ M ]
       [ N ]
       [ O ]
       [ P ]
       [ Q ]
       [ R ]
       [ S ]
       [ T ]
       [ U ]
       [ V ]
       [ W ]
       [ X ]
       [ Y ]
       [ Z ]


    Amended by QFCRA RM02/2009 (as from 6th December 2009).

    • Background to this Rulebook

      1. INAP-VER2-Sep06 incorporates amendments made by Prudential – Insurance Rulebook Rule Making Instrument No. 2006/01 (RM2006/01). See the endnotes for rulebook and amendment history.

    • INAP Part 1 INAP Part 1 General provisions [effective from 6th December 2009]

      Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 1.1.1 Name of Rules [effective from 6th December 2009]

        These rules are the Interpretation and Application Rules 2005 (INAP).

        Amended by QFCRA RM/2012-2 (as from 1st February 2013)

      • INAP 1.1.2 Application of INAP [effective from 6th December 2009]

        (1) These rules apply to all Rules.

        Note Rules is defined in the glossary.
        (2) Also, part 2 (Rules of interpretation and application) applies to the following as if they were Rules:
        (a) waiver or modification notices under the Financial Services Regulations;
        (b) guidance issued by the Regulatory Authority.
        (3) In addition, the Regulatory Authority may, by written notice published on an approved website, apply part 2 (or stated provisions of that part or definitions in the glossary) to any other document made or issued (however described) by the authority.
        Amended by QFCRA RM/2010-04 (as from 1st October 2010)

    • INAP Part 2 INAP Part 2 Rules of interpretation and application [effective from 6th December 2009]

      Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.1 Provisions of pt 2 must be applied [effective from 6th December 2009]

        (1) A provision of this part must be applied, in accordance with the terms of the provision, to any Rules, except so far as it is displaced expressly or by contrary intention.
        (2) A provision of this part must not be taken to be displaced by a contrary intention in a provision of any Rules so far as the provisions can operate concurrently.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.2 Exercise of functions between making and commencement of Rules [effective from 6th December 2009]

        (1) This rule applies to a function under a provision of any Rules in the following situations:
        (a) the function is given by a provision (the authorising provision), but the provision has not commenced;
        (b) the function is given by a provision (the authorising provision) as amended by another provision (the amending provision), but either or both of the provisions have not commenced.
        (2) The function may be exercised at any time even though the authorising provision, or the authorising provision and amending provision (or either of them), is not in force at the time.
        (3) For the exercise of the function, the authorising provision, or the authorising provision and the amending provision, are taken to be in force at the time of the exercise of the function.
        (4) Also, anything else may be done in relation to the function at any time for the purpose of bringing, or in relation to bringing, the authorising provision, the authorising provision as amended by the amending provision, or any other provision of the Rules containing the provision or provisions, into operation.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.3 References to laws include references to laws as in force from time to time etc [effective from 6th December 2009]

        (1) In any Rules, a reference to a law includes a reference to the following:
        (a) the law as originally made, and as amended from time to time since it was originally made;
        (b) if the law has been repealed and remade (with or without changes) since the reference was made — the law as remade (or last remade), as amended from time to time since it was remade (or last remade);
        (c) if a relevant provision of the law has been omitted and remade (with or without changes) in another law since the reference was made — the law in which the provision was remade (or last remade), as in force when the provision was remade (or last remade), and as amended from time to time since the provision was remade (or last remade).
        Note Law is defined in r (4).
        (2) In any Rules, a reference to a provision of a law includes a reference to the following:
        (a) the provision as originally made, and as amended from time to time since it was originally made;
        (b) if the provision has been omitted and remade (with or without changes and whether in the law or another law) since the reference was made — the provision as remade (or last remade), and as amended from time to time since it was remade (or last remade).
        (3) To remove any doubt, if the name of a law is amended (including by substitution), a reference in any Rules to the law by its name before the amendment includes a reference to the law by its name as amended.
        (4) In this rule:

        law means—
        (a) a law of any jurisdiction; and
        (b) any regulations, rules or other instruments (however described and whether legislative or administrative) made or in force under a law of any jurisdiction;
        and includes the QFC Law or any other law of the State and any Regulations or Rules.

        name, of a law, includes any citation of, or other way of referring to, the law.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.4 Material that is part of Rules [effective from 6th December 2009]

        (1) The following things in, or to, any Rules are part of the Rules:
        (a) a heading to a provision;
        (b) an example or diagram;
        (c) a schedule, appendix, dictionary or glossary;
        (d) punctuation;
        (e) a provision number.
        (2) Any guidance in whatever form in any Rules is also part of the Rules.
        (3) To remove any doubt, subrule (2) is subject to the Financial Services Regulations, article 17(4) (Guidance).

        Note Financial Services Regulations, art 17(4) states that guidance issued by the Regulatory Authority is indicative of its view at the time, and in the circumstances, in which it was given and is non-binding.
        (4) Subrule (1) (a) applies to a heading to a provision in any Rules only if—
        (a) the Rules were made after 1 January 2007; or
        (b) the heading was amended or inserted into the Rules after 1 January 2007.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.5 Effect of examples [effective from 6th December 2009]

        An example in any Rules—

        (a) is not exhaustive; and
        (b) may extend, but does not limit, the meaning of the Rules or the particular provision of the Rules to which it relates.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.6 Material that is not part of Rules [effective from 6th December 2009]

        (1) The following things in, or to, any Rules are not part of the Rules:
        (a) a footnote, endnote or other note;
        (b) a table of contents (however described), reader's guide or index.
        (2) Anything mentioned in subrule (1) (a) or (b) does not become part of the Rules because it is amended or inserted by any Rules.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.7 Effect of notes [effective from 6th December 2009]

        A note in or to any Rules is explanatory.

        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.8 Application of definitions [effective from 6th December 2009]

        (1) A definition in the glossary to these Rules applies to any Rules, unless these Rules or any other Rules provide for the definition to have a different application.

        Note To assist the reader, the application of a definition in that glossary to any word(s) would usually be indicated by the word(s) being in italics (other than bold italics).
        (2) A definition in the dictionary or glossary to any other Rules applies to the entire Rules, and only to those Rules, unless the Rules or any other Rules provide for the definition to have a different application.
        (3) A definition in a rule of any Rules applies to the entire rule, and only to the rule, unless the Rules provide for the definition to have a different application.
        (4) A definition in any Rules applies except so far as the contrary intention appears.
        (5) If Rules define a term, other parts of speech and grammatical forms of the term have corresponding meanings.
        (6) In this rule:

        definition means a provision (however expressed) that —
        (a) gives meaning to a term; or
        (b) limits or extends the meaning of a term.
        rule includes any provision corresponding to a rule.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.9 Gender and number [effective from 6th December 2009]

        In any Rules—

        (a) words indicating gender include every other gender; and
        (b) words in the singular include the plural and words in the plural include the singular.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.10 Meaning of may and must [effective from 6th December 2009]

        (1) In any Rules, the word may, or a similar term, used in relation to a function indicates that the function may be exercised or not exercised, at discretion.
        (2) In any Rules, the word must, or a similar term, used in relation to a function indicates that the function is required to be exercised.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.11 Working out periods of time generally [effective from 6th December 2009]

        (1) This rule applies in working out a period of 1 day or longer for the purposes of any Rules, whether the period is a period in the future or past.
        (2) A period of time described as starting at, on or with a stated day, act or event includes the stated day or the day of the stated act or event.
        (3) A period of time described as starting from or after a stated day, act or event does not include the stated day or the day of the stated act or event.
        (4) A period of time described as ending at, by, on or with, or as continuing to, a stated day, act or event includes the stated day or the day of the stated act or event.
        (5) A period of time described as ending before a stated day, act or event does not include the stated day or the day of the stated act or event.
        (6) A reference to a number of days between acts or events does not include the day when the acts or events happen.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.12 Doing things for which no time is fixed [effective from 6th December 2009]

        (1) This rule applies if —
        (a) under any Rules, something must or may be done; but
        (b) no time is provided to do the thing.
        (2) The thing must or may be done as soon as practicable and as often as needed.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.13 Continuing effect of obligations [effective from 6th December 2009]

        If, under a provision of any Rules, an act is required to be done, the obligation to do the act continues until the act is done even if —

        (a) the provision required the act to be done within a particular period or before a particular time, and the period has ended or the time has passed; or
        (b) an entity has committed or been found guilty of an offence, or a penalty has been imposed, in relation to the failure to do the act.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.14 Power to make instruments [effective from 6th December 2009]

        (1) If any Rules give a power that can be exercised by making an instrument, the Rules give power to make the instrument.
        (2) If any Rules give power to make an instrument, the power may be exercised from time to time.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.15 Power to make instrument includes power to amend or repeal [effective from 6th December 2009]

        (1) Power given under Rules to make an instrument includes power to amend or repeal the instrument.
        (2) The power to amend or repeal an instrument is exercisable in the same way, and subject to the same conditions, as the power to make the instrument.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 2.1.16 Instruments may have retrospective effect [effective from 6th December 2009]

        A provision of an instrument made under any Rules may commence before the day the instrument is made if the provision does not operate to the disadvantage of a person (other than the Regulatory Authority) by —

        (a) adversely affecting the person's rights; or
        (b) imposing liabilities on the person.
        Amended by QFCRA RM02/2009 (as from 6th December 2009).

    • Part 3 Part 3 Publication of Rules and regulatory material [effective from 6th December 2009]

      Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.1 Definitions — pt3 [effective from 6th December 2009]

        In this part:

        Chief Executive Officer means the Chief Executive Officer of the Regulatory Authority.

        regulatory material means the following:

        (a) a waiver or modification notice under the Financial Services Regulations (or a notice revoking or varying such a notice);
        (b) guidance issued by the Regulatory Authority, other than guidance issued to an authorised firm or person individually;
        (c) a form approved or otherwise prescribed (however described) by the Regulatory Authority under any Regulations;
        (d) an approval, notice, policy or other instrument made or issued (however described) by the Regulatory Authority under any Regulations, other than an instrument made or issued for an authorised firm or person individually;

        and includes any provision of any regulatory material.

        Rules include any provision of any Rules.

        Amended by QFCRA RM/2010-04 (as from 1st October 2010)

      • INAP 3.1.2 Approved websites [effective from 6th December 2009]

        (1) The Chief Executive Officer may approve websites for this part.
        (2) The Regulatory Authority may enter into agreements or arrangements to ensure that users can authenticate an approved website or material on an approved website
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.3 Publication and authorisation of Rules and regulatory material [effective from 6th December 2009]

        (1) The Regulatory Authority may publish written or electronic versions of any Rules or regulatory material, whether as made or issued (however described) or as amended from time to time.

        Note 'Written' includes printed (see glossary, def writing).
        (2) The Regulatory Authority may authorise any of these versions (or any format of any of these versions).
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.4 Authorised electronic versions — Rules and regulatory material [effective from 6th December 2009]

        (1) An electronic copy of any Rules or regulatory material is an authorised electronic version if —
        (a) it is an electronic copy of a version authorised by the Regulatory Authority that is accessed at, or downloaded from, an approved website in a format authorised by the Chief Executive Officer, by notice published on an approved website; or
        (b) it is an electronic copy of a version authorised by the Regulatory Authority and is in the format in which it is authorised by the authority.
        Example of electronic format that may be authorised

        a locked pdf file
        (2) It is presumed, unless the contrary is proved —
        (a) that an internet site purporting to be an approved website is an approved website; and
        (b) that an electronic copy of any Rules or regulatory material accessed at, or downloaded from, an approved website and purporting to be authorised by the Regulatory Authority (however expressed) is an authorised electronic version of the Rules or regulatory material; and
        (c) that any other electronic copy of any Rules or regulatory material purporting to be authorised by the Regulatory Authority (however expressed) is an authorised electronic version of the Rules or regulatory material; and
        (d) that an authorised electronic version of any Rules or regulatory material purporting to be a version of the Rules or regulatory material as made or issued (however described) correctly shows the Rules or regulatory material as made or issued; and
        (e) that an authorised electronic version of any Rules or regulatory material purporting to be a version of the Rules or regulatory material as in force (however described) at any time or during any period correctly shows the Rules or regulatory material as in force at that time or during that period.
        Examples for par (e)
        1 A statement 'Effective: 1 October 2008' or 'Effective: 1/10/08' in an authorised electronic version of any Rules means that the version correctly shows the Rules as in force on 1 October 2008.
        2 A statement "Effective: 7 April 2008—30 September 2008' or 'Effective: 7/4/08—30/9/08' in an authorised electronic version of any Rules means that the version correctly shows the Rules as in force during the period from 7 April 2008 to 30 September 2008 (both dates included).
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.5 Authorised written versions — Rules and regulatory material [effective from 6th December 2009]

        (1) A written copy of any Rules or regulatory material is an authorised written version if —
        (a) it is a written copy of a version authorised by the Regulatory Authority; or
        (b) it is a written copy produced directly from an authorised electronic version of the Rules or regulatory material.
        Example

        An authorised electronic version of any Rules is downloaded from an approved website and printed. The printed copy is an authorised written version of the Rules.
        (2) It is presumed, unless the contrary is proved —
        (a) that a written copy of any Rules or regulatory material purporting to be authorised by the Regulatory Authority (however expressed) is an authorised written version of the Rules or regulatory material; and
        (b) that an authorised written version of any Rules or regulatory material purporting to be a version of the Rules or regulatory material as made or issued (however described) correctly shows the Rules or regulatory material as made or issued; and
        (c) that an authorised written version of any Rules or regulatory material purporting to be a version of the Rules or regulatory material as in force (however described) at any time or during any period correctly shows the Rules or regulatory material as in force at that time or during that period.
        Examples for par (c)

        See examples for rule 3.1.4(2)(e).
        (3) Subrule (2) does not limit rule 3.1.4(2) (Authorised electronic versions — Rules and regulatory material).
        Amended by QFCRA RM/2012-2 (as from 1st February 2013)

      • INAP 3.1.6 Notice of certain matters [effective from 6th December 2009]

        (1) Proof is not required about —
        (a) the making or issue (however described) of any Rules or regulatory material; or
        (b) the provisions of any Rules or regulatory material, whether as made or issued (however described) or as in force from time to time; or
        (c) the commencement, amendment, repeal, modification, waiver or expiry (however described) of any Rules or regulatory material; or
        (d) amendments or other changes made under rule 3.1.7 (Preparation of Rules and regulatory material for publication); or
        (e) the authorisation under this part of an electronic or written version of any Rules or regulatory material; or
        (f) whether a website is an approved website; or
        (g) the publication of anything on an approved website.
        (2) A court or tribunal may inform itself of anything mentioned in subrule (1) in any way it considers appropriate.
        Examples of ways that may be appropriate
        1 using a version of any Rules or regulatory material downloaded from an approved website using the internet
        2 using information obtained from an approved website using the internet
        3 using an authorised written version of any Rules or regulatory material
        (3) However, the court or tribunal must consider whether any source that it intends to use appears to be a reliable source of information.
        (4) For subrule (3), an authorised electronic or written version of any Rules or regulatory material is a reliable source of information.
        (5) This rule does not limit any other provision of a law, Regulations or Rules.
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.7 Preparation of Rules and regulatory material for publication [effective from 6th December 2009]

        (1) In preparing a written or electronic version of any Rules or regulatory material for publication, the Regulatory Authority may —
        (a) make editorial amendments, and other textual amendments of a technical or formal nature; and
        (b) make other editorial changes by way of format, layout, presentation or printing style.
        (2) However, this rule does not permit the making of any amendment of any Rules or regulatory material that would change the legal effect of the Rules or regulatory material.
        (3) For this rule, an editorial amendment is an amendment that —
        (a) updates or corrects a reference to, or to any provision of, any law or other instrument; or
        (b) goes only to a matter of spelling, punctuation, or the use (or non-use) of conjunctives, disjunctives or capitals; or
        (c) numbers or paragraphs (to any level) any provision, or changes the order of definitions or other provisions, of any Rules or regulatory material; or
        (d) changes the naming or numbering of a provision of any Rules or regulatory material; or
        (e) replaces a reference to a provision of any law or other instrument with a different form of reference to the provision; or
        (f) changes the way of referring to or expressing a number, year, date, time, amount of money, quantity, measurement or any similar matter; or
        (g) changes the form, layout or wording of any definition; or
        (h) updates a reference to the heading of a provision of any law or other instrument; or
        (i) omits the enacting or making words (however described) of any Rules or regulatory material (including any signatures); or
        (j) omits a provision of any Rules or regulatory material that has expired or the operation of which is exhausted or spent; or
        (k) inserts, omits or changes anything not forming part of any Rules or regulatory material, including, for example, any table of contents (however described) or endnote; or
        (l) is consequential on any other editorial amendment.
        (4) Any Rules or regulatory material amended or otherwise changed under this rule has effect for all purposes, on and after publication by the Regulatory Authority, as if the changes had been made by other Rules or regulatory material of the same kind.
        (5) In this rule:

        law means —
        (a) a law of any jurisdiction; and
        (b) any regulations, rules or other instruments (however described and whether legislative or administrative) made or in force under a law of any jurisdiction;
        and includes the QFC Law or any other law of the State and any Regulations or Rules.
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

      • INAP 3.1.8 Authorisation to exercise certain functions under pt 3 etc [effective from 6th December 2009]

        (1) The Chief Executive Officer may authorise employees of the Regulatory Authority to exercise for the authority functions under or in relation to any of the following provisions of this part:
        •   rule 3.1.3 (Publication and authorisation of Rules and regulatory material)
        •   rule 3.1.7 (Preparation of Rules and regulatory material for publication).
        (2) A function mentioned in subrule (1) that is exercised by an employee authorised under that subrule is taken to have been exercised by the Regulatory Authority.
        Inserted by QFCRA RM02/2009 (as from 6th December 2009).

    • INAP 1 INAP 1 Interpretation of the Qatar Financial Centre Regulatory Authority Rulebooks [effective until 5th December 2009]

      Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.1 INAP 1.1 Application [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.1.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.2 INAP 1.2 Purposive Interpretation [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.2.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.2.2 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.3 INAP 1.3 General Interpretation [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.3.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.4 INAP 1.4 Use of Defined Terms [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.4.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.4.2 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.5 INAP 1.5 Cross References [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.5.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 1.6 INAP 1.6 Notes in rulebooks [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 1.6.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

    • INAP 2 INAP 2 Emergency [effective until 5th December 2009]

      Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

      • INAP 2.1 INAP 2.1 Event of an Emergency [effective until 5th December 2009]

        Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 2.1.1 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 2.1.2 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

        • INAP 2.1.3 [effective until 5th December 2009]

          Restructured by QFCRA RM02/2009 (as from 6th December 2009) to form INAP Part 1 and Part 2.

    • Glossary Glossary Definitions for all Rules

      Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • [ A ] [ A ]

        • Acceptable Collateral [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • accounting reference date [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Advising on Relevant Investments

          The Regulated Activity of Advising on Investments where the Specified Product to which the activity relates is a Relevant Investment.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • affected person [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • AML Regulations [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • AML/CFTR

          AML/CFTR means the Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019.

          Amended by QFCRA RM/2010-03 (as from 30th April 2010).
          Amended by QFCRA RM/2020-1 (as from 15th August 2020)

        • AMLG

          AMLG means the Anti-Money Laundering and Combating the Financing of Terrorism (General Insurance) Rules 2019.

          Inserted by QFCRA RM/2012-2 (as from 1st February 2013)
          Amended by QFCRA RM/2020-1 (as from 15th August 2020)

        • annual accounting period [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Annual Audited Expenditure [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • annual income allocation date [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Appeals Body [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Applicant

          A body corporate, partnership or unincorporated association which is the subject of an application for an Authorisation made under Article 26 of the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Approved Actuary [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • approved asset [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • approved individual

          An individual approved under the FSR, article 41 to perform 1 or more controlled functions.

          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • approved representative [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • approved representative contract [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • approved website

          means a website that is approved under rule 3.1.2.

          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • Arranging Credit Facilities

          The activity described in paragraph 7 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Arranging Deals in Investments

          The Regulated Activity described in Paragraph 5 of Part 2 of Schedule 3 of the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Arranging Deals in Relevant Investments

          The Regulated Activity of Arranging Deals in Investments where the Specified Product to which the activity relates is a Relevant Investment.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Arranging the Provision of Custody Services

          The activity described in Paragraph 9 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • articles of association [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Associate

          In relation to a Person holding shares in an Authorised Firm or a Parent Entity of an Authorised Firm, or entitled to exercise or control the exercise of voting power in an Authorised Firm or a Parent Entity of an Authorised Firm:

          (A) the spouse of that Person;
          (B) a child or stepchild of that Person;
          (C) the trustee of any settlement (including any disposition or arrangement under which property is held on trust (or subject to a comparable obligation) under which that Person has a life interest in possession);
          (D) an Entity of which that Person is a director;
          (E) an Entity in the same Group as that Person;
          (F) a Person who is an employee or partner of that Person;
          (G) if that Person is an Entity:
          (i) a director of that Person;
          (ii) a Subsidiary of that Person;
          (iii) a director or employee of such Subsidiary; or
          (H) if that Person has with any other Person an agreement or arrangement with respect to the acquisition, holding or disposal of shares or other interests in the Authorised Firm or a Parent Entity of the Authorised Firm or under which they undertake to act together in exercising their voting power in relation to the Authorised Firm or a Parent Entity of an Authorised Firm (other than where the only such agreement or arrangement to which they are party forms part of the constitutional documents of the Authorised Firm or, as the case may be, the Parent Entity).
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • associated person [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • authorisation

          An authorisation granted by the Regulatory Authority under the FSR, part 5 to carry on regulated activities.

          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • Authorised Firm

          A Person that has been granted an Authorisation in accordance with Part 5 of the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

      • [ B ] [ B ]

        • BANK

          means the Banking Business Prudential Rules 2014.

          Inserted by QFCRA RM/2014-3 (as from 1st January 2015)

        • base capital requirement [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • base currency [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • bearer certificate [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Beneficial Owner [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Body Corporate

          Any body corporate, including a Limited Liability Partnership, constituted under the Companies Regulations or the Limited Liability Partnership Regulations and a body corporate constituted under the law of a country or territory outside of the QFC.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • branch

          A legal entity incorporated in a jurisdiction outside the QFC.

          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • Bundled Brokerage Arrangement [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • business customer [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Business Day

          business day means a day that is not a Friday, Saturday, or a public or bank holiday in Qatar.

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

      • [ C ] [ C ]

        • calendar month

          means a period beginning at the start of any day of one of the 12 months of the year (a named month) and ending —

          (a) at the end of the day before the corresponding day of the next named month; or
          (b) if there is no corresponding day — at the end of the last day of next named month.

          Examples

          1 The period beginning at the start of 5 July 2009 and ending at midnight on 4 August 2009 is a calendar month.
          2 The period beginning at the start of 30 January 2009 and ending at midnight on 28 February 2009 is a calendar month.

          The calendar month ends on the last day of February because in that year February does not have a day corresponding to 29 January (because 2009 is not a leap year). If the period began at the start of 30 January 2012 (ie a leap year), the calendar month would end on 29 February 2012.
          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • CAPI

          CAPI means the Captive Insurance Business Rules 2011.

          Inserted by QFCRA RM/2011-4 (as from 1st July 2011).

        • capital property [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Capital Requirements [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Capital Resources [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • captive insurance business

          captive insurance business has the meaning given by CAPI, rule 1.2.2.

          Inserted by QFCRA RM/2011-4 (as from 1st July 2011).

        • captive insurance management

          captive insurance management has the meaning given by IMEB, rule 1.2.5.

          Inserted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Captive [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Carrying out a Contract of Insurance

          The activity described in Paragraph 3 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Categories

          Categories of Contracts of Insurance as described in Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Cell [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Cell Shares [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Cellular Assets [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Cellular Liabilities [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Chief Executive Officer

          in INAP, part 3 (Publication of Rules and regulatory material), has the meaning given by rule 3.1.1.

          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • Chinese Wall [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • CIPR

          means Customer and Investor Protection Rules 2019.

          Inserted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Civil and Commercial Court

          means the Civil and Commercial Court of the QFC established under the QFC Law.

          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • Class 1 Captive Insurer [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Class 2 Captive Insurer [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Class 3 Captive Insurer [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • class meeting [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Client Bank Account [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Client Money [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Client Money Distribution Rules [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Client Money Protection Rules [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Close Links

          A Person (person A) has close links with a Person (person B) if:

          (A) person B:
          (i) is a Holding Company of person A;
          (ii) is a Subsidiary of person A;
          (iii) is a Holding Company of the Subsidiary of person A;
          (iv) is a Subsidiary of a Holding Company of person A; or
          (v) owns or controls 20% or more of the voting rights or shares of person A; or
          (B) person A owns or controls 20% or more of the voting rights or shares of person B.
          Amended by RM/2018-4 (as from 1st August 2018).

        • closely related counterparties [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Close Out Netting [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • cold call [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • COLL

          means the Collective Investment Schemes Rules 2010.

          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Collateral

          Any form of asset, guarantee, or indemnity which is held or controlled by an Authorised Firm and is subject to a security interest or arrangement in favour of that Authorised Firm.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • collective investment company (or CIC) [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Collective Investment Fund

          [deleted]

          Deleted by QFCRA RM01/2008 (as from 7th April 2008).

        • collective investment fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • collective investment partnership (or CIP) [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • collective investment scheme

          collective investment scheme has the meaning given by COLL, rule 1.2.1.

          Inserted by QFCRA RM/2010-07 (as from 1st January 2011)

        • collective investment trust (or CIT) [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • commercial customer [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • commission

          Any form of commission, including a benefit of any kind offered or given.

          Amended by QFCRA RMI/2008-2 (as from 1st October 2008).

        • Commodities Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Companies Regulations

          The QFC Companies Regulations 2005.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Company

          A company incorporated under the Companies Regulations or under the law of a country or territory outside the QFC where the liability of each of its members (in its capacity as a member) is limited, under the laws of that jurisdiction, to the amount of its capital contribution to the company.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Compliance Oversight Function

          compliance oversight function means the function described in CTRL, rule 1.2.13.

          Amended by QFCRA RM/2012-5 (as from 1st July 2013)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021).

        • Concentration Risk

          The risk faced by an Authorised Firm arising out of its Large Exposures.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Connected Counterparties [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • constitutional document [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Contingent Liability Transaction [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Contract for Differences

          The Specified Product described in Paragraph 9 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Contract of Insurance

          The Specified Product described in Paragraph 10 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • contravene

          contravene includes fail or refuse to comply with.

          Inserted by QFCRA RM/2010-04 (as from 1st October 2010)

        • Control

          Control over an Authorised Firm as described in Article 37 of the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • controlled function

          Has the meaning given by the FSR, article 41 (2).

          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • Controller [Deleted]

          Deleted by QFCRA RM/2014-1 (as from 1st February 2014).

        • Control Notice [Deleted]

          Deleted by QFCRA RM/2014-1 (as from 1st February 2014).

        • Convertible

          An investment that gives the investor the right to convert the Security into equity at an agreed price or on an agreed basis.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Correspondent Account [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Correspondent Bank [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Correspondent Banking Client [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Counterparty

          Any Person with or for whom an Authorised Firm carries on or intends to carry on, any regulated business or associated business.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Counterparty Risk

          The risk that an Authorised Firm's Counterparty does not perform its obligations under the terms of a contract.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Counterparty Risk Capital Component (CPCOM) [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Court

          Qatar Financial Centre Civil and Commercial Court.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • Credit Default Product [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Derivatives [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Enhancement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Equivalent Amount (CEA) [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Event [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Event Payment [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Facility

          The Specified Product described in Paragraph 3 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Credit Risk

          In relation to an Authorised Firm, the risk of loss if another party fails to perform on its financial obligation to the Authorised Firm.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Credit Risk Capital Component (CRCOM) [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Credit Spread Option [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Criminal Conduct [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Criminal Property [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • CRO

          The Companies Registration Office established pursuant to Article 7 of the QFC Law.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Custody Investments [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • customer [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Customer Assets [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • customer dispute resolution scheme [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Customer Facing Function [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Customer Order [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

      • [ D ] [ D ]

        • Data Protection Regulations

          The QFC Data Protection Regulations 2005.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • day

          A period of 24 hours starting at midnight.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • Dealing in Investments

          The Regulated Activity described in Paragraph 4 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Dealing in Relevant Investments as Agent

          The Regulated Activity of Dealing in Investments in the capacity of agent where the Specified Product to which the activity relates is a Relevant Investment.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Dealing in Relevant Investments as Principal

          The Regulated Activity of Dealing in Investments in the capacity of principal where the Specified Product to which the activity relates is a Relevant Investment.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • dealing period [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Debt Instrument

          The Specified Product described in paragraph 2 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Deposit

          The Specified Product described in Paragraph 11 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Deposit Taking

          The Regulated Activity described in Paragraph 1 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Deposit Taking Business

          The business of engaging in Deposit Taking.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Derivative

          A Future, an Option or a Contract for Differences.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Designated Bank [deleted]

          Deleted by QFCRA RMI/2008-2 (as from 1st October 2008).

        • Designated Clearing House [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Designated Exchange [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Designated Jurisdiction [deleted]

          Deleted by QFCRA RMI/2008-2 (as from 1st October 2008).

        • dilution adjustment [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • dilution levy [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Director

          In relation to any Body Corporate, unincorporated association or Partnership a Person appointed to direct its affairs including a Person named as director or any Person in accordance with whose instructions that Body Corporate or Partnership is accustomed to act.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Displaced Commercial Risk Capital Requirement (PSIACOM) [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • distribution account [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • document

          document means a record of information in any form (including electronic form), and includes, for example —

          (a) anything in writing or on which there is writing; and
          (b) anything on which there are figures, marks, numbers, perforations, symbols or anything else having a meaning for individuals qualified to interpret them; and
          (c) a drawing, map, photograph or plan; and
          (d) any other item or matter (in whatever form) that is, or could reasonably be considered to be, a record of information.
          Inserted by QFCRA RM/2010-04 (as from 1st October 2010)

        • document evidencing title [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Duration Method [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • dual-priced fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • DvP Transaction [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

      • [ E ] [ E ]

        • Effecting a Contract of Insurance

          The Regulated Activity described in paragraph 2 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • eligible bank

          A person that is an authorised firm with an authorisation for deposit taking, or a person in relation to whom all of the following requirements are satisfied:

          (a) the person is incorporated in a jurisdiction outside the QFC;
          (b) the Regulatory Authority has not, by notice, declared that this definition does not apply to the jurisdiction;
          (c) the person is regulated as a bank, and principally regulated for prudential purposes, by an overseas regulator in the jurisdiction;
          (d) the person is required to prepare audited accounts;
          (e) the person has minimum assets of US $10 million (or its equivalent in any other currency at the relevant time);
          (f) the person had surplus revenue over expenditure for the person's last 2 financial years;
          (g) the person's latest annual audit report is not materially qualified.
          Derived from QFCRA RMI/2008-2 (as from 1st October 2008).

        • Eligible Capital [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • eligible clearing house [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • eligible custodian [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • eligible exchange [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • eligible third party [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Emergency [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Employee

          An individual:

          (A) who is employed or appointed by a Person in connection with that Person's business, whether under a contract of service or for services or otherwise; or
          (B) whose services, under an arrangement between that Person and a third party, are placed at the disposal and under the control of that Person.
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Entity

          A body corporate or partnership or un-incorporated association carrying on a trade or business with a view to profit.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Equity Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Execute

          execute a transaction includes —

          (a) carry into effect or perform the transaction; and
          (b) instruct another person to execute the transaction.
          Amended by QFCRA RM/2010-03 (as from 30th April 2010).

        • Execution-Only Transaction [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Executive Governance Function

          executive governance function means the function described in CTRL, rule 1.2.6.

          Amended by QFCRA RM/2012-5 (as from 1st July 2013)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021).

        • exercise

          In relation to a function — includes perform the function.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • Existing Customer Order [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Expenditure Based Capital Minimum [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

      • [ F ] [ F ]

        • Financial Communication [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Financial Condition Report [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Financial Crime

          financial crime means the use of the financial system for criminal, fraudulent or dishonest purposes, including, for example, insider trading, market abuse, handling the proceeds of crime, money laundering and terrorist financing.

          Amended by QFCRA RM/2010-03 (as from 30th April 2010).

        • Financial Group [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Financial Group Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Financial Institution

          A regulated or unregulated entity, whose activities are primarily financial in nature.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Financial Instrument

          Any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • financial promotion [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Financial Services Regulations

          The QFC Financial Services Regulations 2005 relating to the management, objectives, duties, functions, powers and constitution of the Regulatory Authority.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Financial Services Regulator

          A regulator of financial services activities established in a jurisdiction other than the QFC.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Financial System

          The financial system operating in or from the QFC.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Firm-Related Distribution Event [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • First Loss Facility [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • First to Default [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Fitness and Propriety [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Foreign Currency

          The currency of any country or territory other than the currency in which the Authorised Firm, to whom the expression relates reports.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Foreign Exchange Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • FSR

          The QFC Financial Services Regulations 2005 relating to the management, objectives, duties, functions, powers and constitution of the Regulatory Authority.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • function

          Includes authority, duty and power.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • fund depository [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • fund of funds [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • fund property [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Future

          The Specified Product described in Paragraph 8 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

      • [ G ] [ G ]

        • General Insurance Business

          general insurance business means insurance business in relation to general insurance contracts.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • General Insurance Contract

          general insurance contract means a contract of insurance that is a General Insurance Contract under the Financial Services Regulations, schedule 3, part 3, paragraph 10.3.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • General Market Risk [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • General Market Risk Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Glossary [Deleted]

          Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

        • Governing Body

          The board of Directors, committee of management or other governing body of an Authorised Firm.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • government or public security

          government or public security means a debt instrument issued by or on behalf of—

          (a) a jurisdiction; or
          (b) a public, regional or local authority of a jurisdiction.
          Inserted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Group

          With respect to an Entity:

          (A) that Entity;
          (B) any Parent Entity of the Entity; and
          (C) any Subsidiary (direct or indirect) of that Entity or of any Parent Entity of that Entity.
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Group Risk

          The risk of loss to the Authorised Firm as a result of its membership of, or linkages within a Group.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Gross Outstanding Claims [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Gross Written Premium

          (1) In relation to a Contract of Insurance, the amount of premium payable by the insured in respect of that contract, excluding any excise taxes levied on premiums and receivable by the Insurer but without any deduction for commissions or other acquisition expenses; and
          (2) in relation to an Insurer during a period:
          (A) in respect of General Insurance Business, the aggregate amount of Gross Written Premium in respect of insurance and reinsurance contracts entered into by the Insurer as Insurer during that period, together with any adjustments arising in that period in respect of contracts effected in previous periods; and
          (B) in respect of Long Term Insurance Business, the aggregate amount of Gross Written Premium becoming due for payment in that period.

          Derived from QFCRA RM01/2006 (as from 1st October 2006).

      • [ H ] [ H ]

        • half-yearly accounting period [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • historic price [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Holding Company

          An Entity is a Holding Company of another Entity if the second Entity is a Subsidiary of the first Entity.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

      • [ I ] [ I ]

        • Identifiable Natural Person [Deleted]

          [Deleted]

          Deleted by QFCRA RM/2010-04 (as from 1st October 2010)

        • IFRS

          International Financial Reporting Standards.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • IMEB

          IMEB means the Insurance Mediation Business Rules 2011.

          Inserted by QFCRA RM/2011-4 (as from 1st July 2011).

        • INAP

          INAP means these rules.

          Amended by QFCRA RM/2012-2 (as from 1st February 2013)

        • income equalisation [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • income property [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • independent entity [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Independent Person [Deleted]

          Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

        • INDI

          INDI means the Individuals (Assessment, Training and Competency) Rules 2014.

          Amended by QFCRA RM/2014-3 (as from 1st January 2015)

        • initial disclosure document [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • initial offer [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • initial outlay [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • INMA

          means the Investment Management and Advisory Rules 2014.

          Inserted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Inside Information [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Insolvency Regulations

          The QFC Insolvency Regulations 2005.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • instrument

          means —

          (a) in relation to a derivative — any investment, asset or thing on which the value of the derivative may be based; and
          (b) in any other case — any instrument of any kind, and includes, for example, any writing or other document.
          Amended by QFCRA RM02/2009 (as from 6th December 2009).

        • insurance bank account [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • insurance broker [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Broking Business [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Business

          insurance business means the business of conducting either or both of the following regulated activities:

          (a) effecting contracts of insurance;
          (b) carrying out contracts of insurance.
          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Liabilities [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • insurance management [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Manager [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Mediation Business

          insurance mediation has the meaning given by IMEB, rule 1.2.2.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • insurance money [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Insurance Risk Requirement [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Insurer

          insurer (or QFC insurer) means an authorised firm with an authorisation to conduct insurance business.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • Interest Rate Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • interim accounting period [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • interim income allocation date [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Internal Audit Function

          internal audit function means the function described in CTRL, rule 1.2.14.

           

          Derived from QFCRA RM/2021-1 (as from 1st July 2021)

        • Internal Model [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Invested Asset [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • investment adviser [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Investment Analyst [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • investment business [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Investment Grade [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Investment Linked Insurance [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Investment Manager [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Investment Research

          A publication (other than a personal recommendation) which contains:

          (A) the results of research into a Relevant Investment or its Issuer;
          (B) analysis of factors likely to influence the future performance of a Relevant Investment or its Issuer; or
          (C) advice or recommendations based on those results or analysis.
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Investment Risk Requirement [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Investment Risk Reserve

          Represents the amount that is appropriated out of the income of investment account holders, after allocating the Mudarib's share, in order to meet future losses attributable to investment account holders.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Islamic Contract [Deleted]

          Deleted by QFCRA RM/2012-3 (as from 1st February 2013)

        • Islamic Financial Business [Deleted]

          Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

        • Islamic Financial Institution [Deleted]

          Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

        • Islamic subfund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Islamic Window [Deleted]

          Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

        • Issuer

          issuer means—

          (a) for a security other than a unit in a collective investment scheme—the person that issued, or is to issue, the security; and
          (b) for a unit in a collective investment scheme—the operator of the scheme; and
          (c) for an interest in a limited partnership—the partnership; and
          (d) for a certificate or another instrument that gives contractual or property rights (other than rights consisting of options) in relation to any share, debt instrument, government or public security, or warrant—the person that issued, or is to issue, the security to which the instrument relates.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

      • [ J ] [ J ]

        • jurisdiction

          Includes —

          (a) country or territory; and
          (b) the QFC or a similar jurisdiction.
          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

      • [ K ]

        No terms yet defined.

      • [ L ] [ L ]

        • Large Exposure [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • latest filed prospectus [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • latest filed translation [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Law

          Law means a law of the State.

          Inserted by QFCRA RM/2010-04 (as from 1st October 2010)

        • Licence

          An authorisation or licence to incorporate or establish in the QFC or to carry on Permitted Activities in or from the QFC granted in accordance with Article 11 of the QFC Law.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • life policy

          A long term insurance contract other than a reinsurance contract or a pure protection contract but including a long term care insurance contract.

          Derived from QFCRA RM/2007-01 (as from 1st July 2007).

        • Limited Liability Partnership

          A partnership incorporated under the Limited Liability Partnership Regulations or under the law of a country or territory outside the QFC where the liability of each of those partners (in its capacity as a partner) is limited, under the laws of that jurisdiction, to the amount of its capital contribution to the partnership.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Limited Liability Partnership Regulations

          The QFC Limited Liability Partnership Regulations 2005.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Liquidity Risk

          The risk of loss to an Authorised Firm as a result of inability to meet its obligations as they fall due.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • listed fund [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Local Authorities

          Government or municipal authorities, which do not operate at a national level.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Local Firm

          An Authorised Firm which is a QFC Entity.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Long Term Care Insurance Contract

          A Long Term Insurance Contract which:

          (1)
          (A) provides (or would at the policyholder's option provide) benefits for the policyholder which are payable or provided in the event that the policyholder's mental or physical health has deteriorated to the extent that he is incapacitated so that he is unable to live independently without assistance, and is not expected to recover to the extent that he can live independently without assistance; and
          (B) those benefits are payable or provided in respect of:
          (i) services;
          (ii) accommodation; or
          (iii) goods;

          which are necessary or desirable for the continuing care of the policyholder because of the incapacity referred to in (A); and
          (C) the benefits under the contract are capable of being paid periodically for all or part of the period during which the policyholder is unable to live independently without assistance; or
          (2) is sold or held out as providing benefits for the policyholder as set out in (1).
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Long Term Insurance Business

          long term insurance business means insurance business in relation to long term insurance contracts.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • Long Term Insurance Contract

          long term insurance contract means a contract of insurance that is a Long Term Insurance Contract under the Financial Services Regulations, schedule 3, part 3, paragraph 10.4.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • Long Term Insurance Fund [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Lower Tier Two Capital [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

      • [ M ] [ M ]

        • Managing Investments

          The Regulated Activity described in Paragraph 10 of Part 2 of Schedule 3 to the FSR

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Mandate [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • market counterparty [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Market Risk

          The risk of loss that arises from fluctuations in the values of, or income from, assets or in interest or exchange rates.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Market Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Mark-up or Mark-down [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • material interest

          material interest, in relation to a transaction, means any interest of a material nature, other than disclosable commission on the transaction.

          Amended by QFCRA RM/2010-03 (as from 30th April 2010).

        • Material Outsourcing

          material outsourcing, for an authorised firm, means the outsourcing of a function of such importance that weakness or failure in the exercise of the function would cast serious doubt on—

          (a) the firm's ability to comply with—
          (i) any Regulations, Rules or Principles; or
          (ii) any condition, restriction or requirement of its authorisation; or
          (b) its financial performance or position; or
          (c) its ability to continue its operations.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Maturity Ladder [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Maturity Method [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Maturity Mismatch [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Minimum Capital Requirement [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Minister

          means the Minister of Economy and Finance of the State.

          Amended by QFCRA RM02/2009 (as from 6th December 2009).

        • MLRO Function

          MLRO function means the function described in CTRL, rule 1.2.11.

           

          Derived from QFCRA RM/2021-1 (as from 1st July 2021)

        • Modified Duration [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Money Laundering [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Money Laundering Reporting Function [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • month

          means a calendar month.

          Amended by QFCRA RM02/2009 (as from 6th December 2009).

        • Multilateral Development Bank

          Any one of the following banks:

          (A) African Development Bank (AfDB);
          (B) Asian Development Bank (ASB);
          (C) Caribbean Development Bank (CDB);
          (D) Council of Europe Development Bank;
          (E) European Bank for Reconstruction and Development (EBRD);
          (F) European Investment Bank (EIB);
          (G European Investment Fund (EIF);
          (H) Inter-American Development Bank (IADB);
          (I) Inter-American Investment Corporation (IAIC);
          (J) International Bank for Reconstruction and Development (IBRD);
          (K) International Finance Corporation (IFC); or
          (L) Nordic Investment Bank (NIB).
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

      • [ N ] [ N ]

        • Net Outstanding Claims [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Net Written Premium

          In respect of an Insurer during a period, the Gross Written Premium of the Insurer during that period less the amount of premium on reinsurance contracts entered into by the Insurer as cedant during the same period.

          Derived from QFCRA RM01/2006 (as from 1st October 2006).

        • Netting

          A process by which the claims and obligations between two Counterparties are offset against each other to leave a single net sum.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Nominee

          A body corporate whose business consists solely of acting as a nominee holder of Relevant Investments or other Property.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Non-Cellular Assets [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Non-Cellular Base Capital Requirement [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Non-Cellular Eligible Capital [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Non-Cellular Liabilities [Deleted]

          Deleted by QFCRA RM/2011-2 (as from 1st July 2011).

        • Non-Executive Director

          A Director who has no responsibility for implementing the decision or the policies of the Governing Body of the Authorised Firm.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Non-Executive Governance Function

          non-executive governance function means the function described in CTRL, rule 1.2.7.

          Amended by QFCRA RM/2012-5 (as from 1st July 2013)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021).

        • Non-FATF Country [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Non-Investment Insurance Contract [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Non-Local Firm

          non-local firm means an authorised firm that is not a QFC entity.

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

        • Non-Market-Price Transaction [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Non-performing

          (1) In the case of loans and other Financial Instruments to which an Authorised Firm is exposed, having either of the following qualities:
          (A) Contractual payments of interest or principal are 90 days or more past the date on which they were due and payable, and the current value of any security held in respect of the loan or other financial instrument is insufficient, after making allowance for expenses of realisation, to meet the total amount of principal and accrued interest; or
          (B) having an enhanced risk of default, assessed on the basis of reasonable criteria.
          (2) In regard to (1)(A), if a loan or other Financial Instrument has a regular payment schedule, the loan or other instrument is 90 days past due when 90 calendar days have elapsed since the due date of a contractual payment that has not been met in full; and the total amount that is due but has not yet been paid is equivalent to at least 90 days' worth of contractual payments.

          Derived from QFCRA RM01/2006 (as from 1st October 2006).

        • Non-Trading Book [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • non-QFC intermediary [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • non-QFC intermediary contract [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • notional principal

          In relation to a contract for differences —

          (a) if the contract is an index derivative that resembles a future contract — the current mark-to-market valuation of the contract; or
          (b) if the contact is an index derivative that resembles an option contract — the exercise value of the contract; or
          (c) in any other case — the notional lot size of the contract.
          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

      • [ O ] [ O ]

        • Objectives

          The regulatory objectives of the Regulatory Authority as set out in Article 12(3) of the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • on-exchange

          In relation to a transaction — effected by means of the facilities and services of, or governed by the rules of, an exchange.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • Operating a Collective Investment Fund

          operating collective investment schemes means the regulated activity described in the Financial Services Regulations, schedule 3, part 2, paragraph 12 as Operating a Collective Investment Fund.

          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • operator

          operator, of a collective investment scheme, has the meaning given by COLL, rule 1.2.8.

          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Option

          The Specified Product described in Paragraph 7 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Option Risk Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Order

          An order or instruction to buy, sell, subscribe for, underwrite or exercise rights under a Relevant Investment.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • ordinary resolution [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Original Maturity

          (1) The time period between the date an offer is made and the date it expires or lapses.
          (2) In relation to Debentures, the interval between its issue date and the date on which it becomes due and payable.
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Originator [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • OTC derivative

          OTC derivative means a derivative traded solely in transactions over the counter.

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

        • outsourcing

          outsourcing, for an authorised firm, means any form of arrangement that involves the firm relying on a third party service provider (including a member of the firm's group) for the exercise of a function relating to regulated activities of the firm that would otherwise be exercised by the firm, but does not include the following arrangements:

          (a) discrete advisory services (including, for example, the provision of legal advice), audit services, procurement of specialised training, billing, and physical security;
          (b) supply arrangements and functions (including, for example, the supply of electricity or water and the provision of catering and cleaning services);
          (c) the purchase of standardised services (including, for example, market information services and the provision of prices);
          (d) the appointment of a group employee to exercise a controlled function for the firm.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Overseas Regulator

          A regulatory or governmental authority, body or agency in a jurisdiction outside the QFC (whether in the State or otherwise).

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • over the counter

          over the counter, for a transaction, means—

          (a) not effected by means of the facilities and services of an exchange; and
          (b) not governed by the rules of an exchange.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Own Account Order [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Own Account Transaction [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Owner's Equity [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

      • [ P ] [ P ]

        • packaged product [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Parent Entity

          An Entity which, with respect to another Entity:

          (A) holds a majority of the voting rights in that other Entity;
          (B) is a member of that other Entity (whether direct or indirect, or through legal or beneficial entitlement) and has the right to appoint or remove a majority of the board of directors of that other Entity;
          (C) has the right to exercise a dominant influence over the management and operation of that other Entity through:
          (i) provisions contained in the constitutive documents of that other Entity, or
          (ii) any contractual arrangement relating to the management and operation of that other Entity,
          (D) is a member of that other Entity (whether direct or indirect, or through legal or beneficial entitlement) and alone, or together with one or more Associate(s) holds a majority of the voting rights in that other Entity;

          or is a Parent Entity of any Entity which is a Parent Entity of that other Entity.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Partnership

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

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • partnership agreement [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Permanent Share Capital

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

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Person

          Any person and includes a natural or legal person, body corporate, or body unincorporate, including a branch, company, partnership, unincorporated association or other undertaking, government or state.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Personal Account Transaction [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Personal Data

          personal data means any information relating to an individual who can be identified, directly or indirectly, in particular by reference to an identification number or to 1 or more factors specific to the individual's physical, physiological, mental, economic, cultural or social identity.

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

        • PIIB Category [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PIIB Category 1 [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PIIB Category 2 [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PIIB Category 3 [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PIIB Category 4 [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PIIB Category 5 [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • PINS

          PINS means the Insurance Business Rules 2006.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • PINS Category [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • PINS Category 1 [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • PINS Category 2 [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • PINS Category 3 [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • PINS Category 4 [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Policy Benefit [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Politically Exposed Persons [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Potential Future Credit Exposure (PFCE) [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Premium Liability [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • principal

          principal, in relation to an option, future or forward contract, means—

          (a) if the contract is an option on a future—the amount or value of the property that must be delivered to satisfy settlement of the future; or
          (b) in any other case—the amount or value of the property that must be delivered to satisfy settlement of the contract.
          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

        • Principle [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Principles of Conduct [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • PRIV

          PRIV means the Private Placement Schemes Rules 2010.

          Inserted by QFCRA RM/2010-07 (as from 1st January 2011)

        • private equity fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • private placement fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • product disclosure document [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • product provider [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Profit Equalisation Reserve [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • profit sharing investment account (PSIA) [Deleted]

          Deleted by QFCRA RM/2012-3 (as from 1st February 2013)

        • Project Finance [Deleted]

          Deleted by QFCRA RM/2012-3 (as from 1st February 2013)

        • project finance business [Deleted]

          Deleted by QFCRA RM/2012-3 (as from 1st February 2013)

        • Property

          Property of any form including:

          (A) money;
          (B) all forms of property, real or personal, heritable or moveable; and
          (C) things in action and other intangible or incorporeal property.
          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • property-related assets

          In COLL—any of the following:

          (a) shares, debt instruments or warrants issued by a body corporate if a substantial activity of the body corporate relates to investment in immovables;
          (b) securities receipts that give rights in relation to an investment to which in paragraph (a) applies.
          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • protected cell company

          A company incorporated as, or converted into, a protected cell company under the Companies Regulations.

          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • Protection Buyer [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Protection Seller [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Providing Credit Facilities

          The Regulated Activity described in Paragraph 6 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Providing Custody Services

          The Regulated Activity described in Paragraph 8 of Part 2 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • providing scheme administration [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • provision

          , of a law, any Rules or any other instrument, means any words or anything else that is part of the law, Rules or other instrument, and includes, for example —

          (a) provisions that consist of groups of words (for example, rules, subrules and paragraphs); and
          (b) provisions that consist of groups of other provisions (for example, parts).
          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • PSIACOMcredit [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • PSIACOMmarket [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Public Sector Entities [Deleted]

          Deleted by RM/2018-4 (as from 1st August 2018).

        • pure protection contract

          means a long term insurance contract that meets all of the following conditions:

          (a) the benefits under the contract are payable only on death or for incapacity due to injury, sickness or infirmity;
          (b) the contract has no surrender value, or the consideration consists of a single premium and the surrender value does not exceed that premium;
          (c) the contract makes no provision for its conversion or extension in a way that would result in it ceasing to comply with paragraph (a) or (b);
          (d) the contract is not a reinsurance contract.
          Amended by QFCRA RM02/2009 (as from 6th December 2009).

      • [ Q ] [ Q ]

        • QFC

          The Qatar Financial Centre.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • QFC Authority

          The Qatar Financial Centre Authority established pursuant to Article 3 of the QFC Law.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • QFC captive insurer

          QFC captive insurer has the meaning given in CAPI, rule 1.2.1.

          Inserted by QFCRA RM/2011-2 (as from 1st July 2011).

        • QFC Entity

          A Company incorporated under the Companies Regulations or a Limited Liability Partnership incorporated under the Limited Liability Partnership Regulations.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • QFC insurer (or insurer)

          QFC insurer (or insurer) means an authorised firm with an authorisation to conduct insurance business.

          Inserted by QFCRA RM/2011-4 (as from 1st July 2011).

        • QFC Law

          Law No. 7 of 2005 of the State.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • QFC Licensed Firm

          An Entity which has been granted a Licence by the QFCA.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • qualified investor [Deleted]

          A business customer or market counterparty.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • qualifying holding [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

      • [ R ] [ R ]

        • Rated

          In the case of an instrument or a counterparty, assigned a rating by a Rating Agency in respect of the counterparty credit risk associated with the instrument or counterparty.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Rating Agency

          Standard & Poor's, Moody's, AM Best, Fitch Ratings or another agency approved in writing by the Regulatory Authority.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • readily realisable investment [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Reference Asset [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Reference Date [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Reference Entity [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • registered CIC [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • registered CIP [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • registered CIT [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • registered fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • registered qualified investor fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Regulated Activities

          regulated activity means an activity that is a regulated activity under the Financial Services Regulations.

          Amended by QFCRA RM/2011-4 (as from 1st July 2011).

        • regulated exchange [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Regulated Financial Institution

          A Person who is not an Authorised Firm but who is authorised in a jurisdiction other than the QFC to carry on any financial service by another Overseas Regulator.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Regulations

          Regulations enacted by the Minister in accordance with Article 9 of the QFC Law.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Regulatory Authority

          The Regulatory Authority of the QFC established in accordance with Article 9 of the QFC Law.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • regulatory material

          in INAP, part 3 (Publication of Rules and regulatory material), has the meaning given by rule 3.1.1.

          Inserted by QFCRA RM02/2009 (as from 6th December 2009).

        • regulatory system

          The arrangements, in or under regulations or rules, for regulating authorised firms.

          Amended by QFCRA RM/2007-01 (as from 1st July 2007).

        • Regulatory Tribunal

          means the QFC Regulatory Tribunal established under the QFC Law.

          Amended by QFCRA RM02/2009 (as from 6th December 2009).

        • Reinsurance Contract

          A Contract of Insurance covering all or part of a risk to which a Person is exposed under a Contract of Insurance.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • related

          A person (the second person) is related to another person (the first person) if —

          (a) the second person is a subsidiary, associate or holding company of the first person; or
          (b) the second person is a subsidiary or associate of the holding company of the first person; or
          (c) the second person is a director or officer of the first person or of a person related to the first person because of paragraph (a) or (b); or
          (d) the second person is the spouse or minor child of a natural person mentioned in paragraph (c); or
          (e) the second person is a company that is a subsidiary of or subject to significant influence by or from a natural person mentioned in paragraph (c) or (d).
          Amended by QFCRA RM/2007-01 (as from 1st July 2007).

        • relevant investment [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Relevant Issuer [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • Relevant Person [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Relevant Requirement

          Has the meaning given to it in Article 84 of the FSR.

          Derived from QFCRA RM01/2006 (as from 1st October 2006).

        • Relevant Scheme [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • remuneration

          Any form of remuneration, including benefits of any kind.

          Derived from QFCRA RM/2007-02 (as from 15th July 2007).

        • repo agreement [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Reporting Actuary [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Research Recommendation [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Residual Maturity

          The period of time until an asset or an off-balance sheet item matures or expires.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Restricted Profit Sharing Investment Accounts [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • retail customer [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Revolving Securitisation [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Revolving Securitisations [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Right to Use [Deleted]

          [Deleted]

          Deleted by QFCRA RM/2010-04 (as from 1st October 2010)

        • Rights in Investments

          The Specified Product described in Paragraph 12 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Risk Based Capital Requirement [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Risk Management Strategy [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Rules

          means any rules made by the Regulatory Authority, and include —

          (a) any standard, principle or code of practice made by the Regulatory Authority; and
          (b) any other instrument made or in force under any rules, standard, principle or code of practice made by the Regulatory Authority; and
          (c) for INAP, part 3 (Publication of Rules and regulatory material) — any provision of any rules made by the Regulatory Authority or any standard, principle or code of practice or other instrument mentioned in paragraph (a) or (b).
          Amended by QFCRA RM02/2009 (as from 6th December 2009).

        • Rulebooks [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

      • [ S ] [ S ]

        • scheme of arrangement [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Scheme Report [Deleted]

          Deleted by QFCRA RM/2013-1 (as from 1st January 2015).

        • Securities Receipt

          The Specified Product described in Paragraph 5 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Securities Underwriting Capital Requirement [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Securitisation [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • security

          security means any of the following:

          (a) a share;
          (b) a debt instrument;
          (c) a warrant;
          (d) a securities receipt;
          (e) a unit in a collective investment scheme.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • Senior Executive Function

          senior executive function means the function described in CTRL, rule 1.2.8.

          Amended by QFCRA RM/2012-5 (as from 1st July 2013)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021).

        • Senior Management

          One or more Senior Managers.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Senior Management Function

          senior management function means the function described in CTRL, rule 1.2.10.

          Amended by QFCRA RM/2012-5 (as from 1st July 2013)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021).

        • Senior Manager

          In relation to an Authorised Firm, an individual employed by the Authorised Firm or a member of the Authorised Firm's Group who has responsibility either alone or with others for management and supervision of one or more elements of the firm's business relating to Regulated Activities.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Share

          The Specified Product described in Paragraph 1 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Shari'a Supervisory Board

          Shari'a Supervisory Board, of an authorised firm, means the board appointed for the firm under CTRL, Part 9.3.

          Amended by QFCRA RM/2010-07 (as from 1st January 2011)
          Amended by QFCRA RM/2021-1 (as from 1st July 2021)

        • single-priced fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • single property fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Soft Dollar Agreement [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Solvency Reference Date [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • special purpose vehicle

          A body corporate if —

          (a) its sole purpose, either generally or when acting in a particular capacity, is to carry out 1 or more of the following functions:
          (i) issuing investments;
          (ii) redeeming, terminating or repurchasing an issue of investments, in whole or part, with a view to reissue or cancellation;
          (iii) entering into transactions, or terminating transactions, involving investments in connection with the issue, redemption, termination or repurchase of investments; and
          (b) it has been explicitly established for securitising assets; and
          (c) it has assessed by a rating agency.
          Amended by QFCRA RM01/2008 (as from 7th April 2008).

        • special resolution [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Specific Risk

          The risk that losses on an Authorised Firm's net long or short position in an individual equity or Security may arise from a negative or positive price movement of that equity or Security relative to the relevant market generally.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • Specified Product

          specified product means any of the following products:

          (a) share;
          (b) debt instrument;
          (c) credit facility;
          (d) warrant;
          (e) securities receipt;
          (f) unit in a collective investment scheme;
          (g) option;
          (h) future;
          (i) contract for differences;
          (j) contract of insurance;
          (k) deposit;
          (l) rights in investments.
          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • SPV

          Special purpose vehicle

          Amended by QFCRA RM01/2008 (as from 7th April 2008).
          .

        • standing independent valuer [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • State

          The State of Qatar.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • stock lending [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • structured capital at risk investment [Deleted]

          Deleted by QFCRA RM/2014-6 (as from 1st January 2015)

        • Subsidiary

          An Entity is a "Subsidiary" of another Entity if that other Entity is the Parent Entity of the first Entity.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • suspicious transaction report [Deleted]

          Deleted by QFCRA RM/2010-03 (as from 30th April 2010).

        • Synthetic Securitisation [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

      • [ T ] [ T ]

        • Takaful Business [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Takaful Entity [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • Takaful Fund [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • TDR Regulations [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • terms of business [Deleted]

          Deleted by QFCRA RM/2019-4 (as from 1st January 2020).

        • Third Party

          A Person other than the data subject, the controller, the processor and the persons who, under the direct authority of the controller or the processor, are authorised to process the data.

          Amended by QFCRA RMI/2008-2 (as from 1st October 2008).

        • Third Party Account [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • third party-related distribution event [Deleted]

          Deleted by QFCRA RM/2011-4 (as from 1st July 2011).

        • tier one capital [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • tier two capital [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • Total Return Swap [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Trading Book [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Tribunal [Deleted]

          Deleted by QFCRA RM02/2009 (as from 6th December 2009).

        • trust instrument [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

      • [ U ] [ U ]

        • UK GAAP

          UK GAPP means generally accepted accounting principles in the United Kingdom.

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

        • umbrella fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Underlying Customer

          [deleted]

          Deleted by QFCRA RM/2007-01 (as from 1st July 2007).

        • Underwriting

          An arrangement under which a party agrees to buy, before issue, a specified quantity of Securities in an issue of Securities on a given date at a given price, if no other party has purchased or acquired them.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • unit

          unit in a collective investment scheme has the meaning given by COLL, rule 1.2.4.

          Note This is the specified product described in the Financial Services Regulations, sch 3, pt 3, para 6 as a Unit in a Collective Investment Fund.

          Amended by QFCRA RM/2010-07 (as from 1st January 2011)

        • unitholder register [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Unit in a Collective Investment Fund [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • units in existence [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

        • Unrestricted Profit Sharing Investment Account [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Unsettled Transaction [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Upper Tier Two Capital [Deleted]

          Deleted by QFCRA RM/2012-5 (as from 1st July 2013).

        • US GAAP

          Generally accepted accounting principles in the United States.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

      • [ V ] [ V ]

        • valuation point [Deleted]

          Deleted by QFCRA RM/2010-07 (as from 1st January 2011)

      • [ W ] [ W ]

        • Waiver or Modification Notice [Deleted]

          [Deleted]

          Deleted by QFCRA RM/2010-04 (as from 1st October 2010)

        • Walkaway Clause [Deleted]

          Deleted by QFCRA RM/2014-3 (as from 1st January 2015)

        • Warrant

          The Specified Product described in Paragraph 4 of Part 3 of Schedule 3 to the FSR.

          Derived from QFCRA RM07/2005 (as from 13th October 2005).

        • writing

          writing means any form of writing, and includes, for example, any way of representing or reproducing words, numbers or symbols or anything else in legible form (for example, by printing or photo copying).

          Amended by QFCRA RM/2010-04 (as from 1st October 2010)

      • [ X ]

        No terms yet defined.

      • [ Y ]

        No terms yet defined.

      • [ Z ] [ Z ]

        • zone 1 country

          Any of the following countries:

          Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, United Kingdom and USA.

          Amended by QFCRA RM01/2010 (as from 3rd March 2010).

        • zone 2 country

          means a country that is not a zone 1 country.

          Amended by QFCRA RM01/2010 (as from 3rd March 2010).