Part 5: Part 5: Interpretation and Definitions
Article 33 — Interpretation33.1 In these Regulations, a reference to:(a) a provision of any law or regulation or rule includes a reference to that provision as amended or re-enacted from time to time;(b) the masculine gender includes the feminine and the neuter; and(c) writing includes any form of representing or reproducing words in legible form.33.2 The headings in these Regulations shall not affect its interpretation.33.3 A reference in these Regulations to a Part, Article or Schedule by number only, and without further identification, is a reference to a Part, Article or Schedule of that number in these Regulations.33.4 A reference in these Regulations to a Schedule, an Article or a Part using a short form description of such Schedule, Article or Part in parenthesis are for convenience only and the short form description shall not affect the construction of the Article or Part to which it relates.33.5 A reference in an Article or other division of these Regulations to a paragraph, subparagraph or Article by number or letter only, and without further identification, is a reference to a paragraph, sub-paragraph or Article of that number or letter contained in the Article or other division of these Regulations in which that reference occurs.33.6 Each of the Schedules to these Regulations shall have effect as if set out in these Regulations and references to these Regulations shall include reference to the Schedules.33.7 Any reference in these Regulations to "include", "including", "in particular" "for example", "such as" or similar expressions shall be considered as being by way of illustration or emphasis only and are not to be construed so as to limit the generality of any words preceding them.
Amended (as from 19th October 2017).
Article 34 — Definitions
The following words and phrases shall, where the context permits, have the meaning shown against each of them:
Defined Term Definition AML/CFT Law the Law No. (4) of 2010 on Anti-Money Laundering and Combating the Financing of Terrorism, as amended from time to time. Articles of Association the articles of association of a Special Purpose Companyor Holding Companysetting out the rules for internal corporate governance of the entity and which must comply with the Companies Regulations. Associate in relation to a Person holding shares in a QFC Licensed Firm or a Parent Entityof a QFC Licensed Firm, or entitled to exercise or controlthe exercise of voting power in a QFC Licensed Firm or a Parent Entityof a QFC Licensed 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 Entityof which that Person is a director;(E) an Entityin 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 Subsidiaryof 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 QFC Licensed Firm or a Parent Entityof the QFC Licensed Firm or under which they undertake to act together in exercising their voting power in relation to the QFC Licensed Firm or a Parent Entityof a QFC Licensed Firm (other than where the only such agreement or arrangement to which they are party forms part of the constitutional documents of the QFC Licensed Firm or, as the case may be, the Parent Entity). Authorised Firm a Person that has been granted an authorisation by the QFC Regulatory Authority in accordance with Part 5 of the Financial Services Regulations. Beneficial Owner has the meaning set out in Rule 8A of the QFCA Rules. Companies Regulations the Qatar Financial Centre Regulations No.2 of 2005, Companies Regulations (Amended). Companies Rules the Qatar Financial Centre Companies Rules. Company a company incorporated in the QFCunder the Companies Regulations. Corporate and Administrative Services the services enumerated in the Rules. Council of Ministers the Council of Ministers of the State. CRO the Companies Registration Office whose general functions, duties and powers are contained in the Companies Regulations. Entity a body corporate or partnership or unincorporated association. FSR the Qatar Financial Centre Regulations No.1 of 2005, Financial Services Regulations. Group in relation to an Entity:i) that Entity;ii) any holding company of the Entity; oriii) any Subsidiary(direct or indirect) of that Entityor of any holding company of that Entity. Holding Company a limited liability company incorporated in the QFCfor the purpose of carrying out Holding Company Activitiespursuant to these Regulations. Holding Company Activities any of the activities set out in Article 20.1(a) to (g). Holding Company Group in relation to a Holding Company:(A) the Holding Companyitself;(B) any Parent Entityof the Holding Company; and(C) any Subsidiary(whether direct or indirect) of the Holding Company(or of any Parent Entityof the Holding Company). Incorporatori) in the case of incorporating of a Special Purpose Company, the applicant for incorporation including its proposed or existing Shareholders, the Support Service Provideror any legal or accounting firm; orii) in the case of incorporating of a Holding Company, the applicant for incorporation including any Persons who are proposed or existing Members of the Holding Company. Initiator the Person who establishes the Special Purpose Company. Insolvency Regulations the Qatar Financial Centre Regulations No.5 of 2003, Insolvency Regulations 2005. Licence a licence, approval or authorisation to operate in the QFCissued by the QFC Authoritypursuant to Article 11.1 of the QFC Law. Member a member of a Companyas defined in Article 19 of the Companies Regulations. Minister the Minister of Finance. 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 moreor is a Associate(s) holds a majority of the voting rights in that other Entity, Parent Entityof any Entity which is a Parent Entityof that other Entity. Passive(A) in relation to a Special Purpose Company, a Special Purpose Company that carries on one or more of the activities listed in Article 9.1(a) to (d) of these Regulations;(B) in relation to a Holding Company, a Holding Company that:(i) carries on one or more of the activities listed in Article 20.1(a) to (f) of these Regulations; and(ii) owns shares or assets of companies within the Holding Company Group. Permitted Activities the activities listed in Schedule 3 of the QFC Lawor designated by the Council of Ministersunder Article 10(1) of the QFC Law. Person a natural or juridical person, body corporate, or body unincorporated, including a branch, a company, partnership, unincorporated association or other undertaking, government or state. Prescribed Fees a fee prescribed in rules made or approved by the QFC Authority. Prescribed Forms a form prescribed by or approved by the QFC Authority. Purpose the purpose of Transactions, as set out in the Licence, for which a Special Purpose Company is established, including arrangements to directly facilitate such Transactions. QFC the Qatar Financial Centre. QFC Authority the Qatar Financial Centre Authority established pursuant to Article 3 of the QFC Law. QFC Authority Regulations the Qatar Financial Centre Regulations No. 9 of 2006, QFC Authority Regulations. QFC Authority Rules the QFC Authority Rules applicable to licensed firms in the QFC. QFC Court a competent court or tribunal established pursuant to the QFC Law, including the QFC Civil and Commercial Court. QFC Law Law No. (7) of 2005 of the State, as amended. QFC Licensed Firm a body corporate which has been granted and continues to hold a Licencegranted by the QFC Authority. Regulated Activities financial activity prescribed in the QFC Law, as may be amended from time to time, as constituting a Regulated Activity. Regulations the Qatar Financial Centre Regulations No. 15 of 2012, Special Company Regulations. Regulatory Authority the Qatar Financial Centre Regulatory Authority established pursuant to Article 8 of the QFC Law. Rules rules made by the QFC Authoritypursuant to Article 7 of these Regulations. Shareholder a Member or shareholder of a Special Companyas the case may be. Special Company a Special Purpose Companyor a Holding Company. Special Purpose Company the company described in Article 9 of these Regulations. Special Purpose Company Activities any of the activities listed in Article 9.1 of these Regulations. Senior Executive Function the function to be carried out pursuant to General Rule 11.3 of the QFCA Rules. Standard Articles of Association the standard articles of association set in Appendix 1 of the Companies Rules. State the State of Qatar. Subsidiary an Entityin which another Entity:(a) holds a majority of the voting rights in the first Entity;(b) is a Memberof the first 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 the first Entity;(c) has the right to exercise a dominant influence over the management and operation of that other Entitythrough:(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; or(d) is aor if the first Memberof the first Entity(whether direct or indirect, or through legal or beneficial entitlement) and controls alone or pursuant to an agreement with other Memberor Members, a majority of the voting rights in the first Entity; Entityis a Subsidiaryof another Entitywhich is itself a Subsidiaryof the second Entity. Support Service Provider a body corporate, partnership or limited liability partnership approved by the QFC Authorityto provide Corporate and Administrative Services. Transaction a transaction or series of connected transactions. Amended (as from 19th October 2017).
Amended (as from 6th July 2021).