• Part 19: Part 19: Interpretation and Definitions

    • Article 109 - Interpretation

      (1) In these Regulations, a reference to:
      (A) a provision of any law or regulation includes a reference to that provision as amended or re-enacted from time to time;
      (B) an obligation to publish or cause to be published a particular document shall, unless expressly provided otherwise in these Regulations, include publishing or causing to be published in printed or electronic form;
      (C) a calendar year shall mean a year of the Gregorian calendar;
      (D) a month shall mean a month of the Gregorian calendar;
      (E) the masculine gender includes the feminine and the neuter;
      (F) writing includes any form of representing or reproducing words in legible form; and
      (G) a reference to a Person is, if the context permits, a reference to any Person over whom the Regulatory Authority has, or may have, Functions.
      (2) The headings in these Regulations shall not affect its interpretation.
      (3) A reference in these Regulations to a Schedule, an Article or a Part using a short form description of such 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.
      (4) 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.
      (5) A reference in an Article or other division or Schedule of these Regulations to a paragraph, sub-paragraph 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 or Schedule of these Regulations in which that reference occurs.
      (6) Each of the Schedules to these Regulations shall have effect as if set out in these Regulations and reference to these Regulations shall include reference to the Schedules.
      (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.
      (8) References to Chairman, Chief Executive Officer, Director General, director or similar expressions are, where the context permits, a reference to the Person holding that office from time to time.
      (9) The Regulatory Authority may by Rules restrict the meaning or scope of the expressions " Entity", " Group", " Parent Entity" or " Subsidiary" as applied in or pursuant to these Regulations.
      Amended by QFC Reg 2010-2 (as from 9th December 2010)

    • Article 110 - Definitions

      The following words and phrases shall where the context permits have the meanings shown against each of them:-

      Actuary an actuary referred to in Part 15 (Appointment of Auditors and Actuaries)
      Administration an administration under the Insolvency Regulations
      Administrator a Person appointed under the Insolvency Regulations to manage a Company's affairs, business and property
      [Deleted] [Deleted]
      Appeals Body the Appeals Body of the QFC established pursuant to Article 8 of the QFC Law
      Appeals Member a member of the Appeals Body as provided by Schedule 5 of the QFC Law
      Applicant a Person submitting an Application (which in the case of an Application for approval of a Person as an Approved Individual under Part 7 of these Regulations (Individuals and Controlled Functions) shall be the Authorised Firm submitting the Application
      Application an application :
      (A) for an Authorisation, or variation or withdrawal of an Authorisation under Part 5 of these Regulations (Authorisation Requirements and Process);
      (B) for an approval of a Person as an Approved Individual under Part 7 of these Regulations (Individuals and Controlled Functions);
      (C) for Guidance or a waiver (or revocation or variation of a waiver) of Rules;
      (D) for a QFCA Licence; or
      (E) for registration of a Collective Investment Fund under Part 17
      as the context requires
      Approved Individual a Person approved by the Regulatory Authority for the purposes of performing one or more Controlled Functions on behalf of an Authorised Firm pursuant to Article 41
      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)
      Auditor an auditor referred to in Part 13 (Appointment of Auditors and Actuaries)
      Authorisation an authorisation from the Regulatory Authority to carry on Regulated Activities in or from the QFC
      Authorised Firm a body corporate, partnership or unincorporated association which has been granted and continues to hold an Authorisation granted by the Regulatory Authority in accordance with Article 29 (Grant of Authorisation, variation or withdrawal and rejection of an Application)
      Board the Board of Directors of the QFC Authority
      Chairman (other than in Schedule 1 ( Regulatory Authority) and Schedule 4 (Appeals Body)) the Chairman of the QFC Authority

      (in Schedule 1 (Regulatory Authority)) the Chairman of the Regulatory Authority

      (in Schedule 4 (Appeals Body)) the Chairman of the Appeals Body
      Chief Executive Officer the chief executive officer of the Regulatory Authority
      Close Links an Authorised Firm has close links with another Person if
      (A) that other Person is a Parent Entity of the Authorised Firm;
      (B) that other Person is a Subsidiary of the Authorised Firm;
      (C) that other Person is a Parent Entity of a Subsidiary of the Authorised Firm;
      (D) that other Person is a Subsidiary of a Parent Entity of the Authorised Firm;
      (E) that other Person owns or controls 20% or more of the voting rights or capital of the Authorised Firm; or
      (F) the Authorised Firm owns or controls 20% or more of the voting rights or capital of that other Person
      Close Relative in relation to a Person means
      (A) his spouse;
      (B) his children and step-children, his parents and step-parents, his brothers, his sisters, his half brothers and half sisters, and his step-brothers and stepsisters; and
      (C) the spouse of any person within (B)
      Collective Investment Fund has the meaning given to that term in paragraph 6 of Part 3 of Schedule 3
      Companies Regulations Regulations enacted or to be enacted by the Minister pursuant to the QFC Law relating to the incorporation of Companies and related requirements and procedures
      Company a company incorporated under the Companies Regulations
      Company Arrangement A composition with a Company's creditors in satisfaction of its debts which has been approved under the Insolvency Regulations
      Confidential Information information of a confidential nature received by the Regulatory Authority in the exercise of its functions other than information:
      (A) which was, prior to such receipt, in the public domain or which has come into the public domain other than as a result of a contravention of Article 19;
      (B) is a summary, collation, redaction or statistical representation or analysis of information from which it is not possible to ascertain that it relates to a particular Person
      Contravene includes fail or refuse to comply with
      Controller a Person having or acquiring, either alone or together with one or more Associate(s), control (as described in Article 37(1)) over an Authorised Firm to which Article 34(2) relates
      Controlled Function a function in respect of which an individual is required to be an Approved Individual as more particularly described in Article 41
      Controller Notice a notice relating to a change in control of an Authorised Firm or Parent Entity of an Authorised Firm as required by Article 36
      Council of Ministers the Council of Ministers of the State
      CRO the Companies Registration Office established pursuant to Article 7 of the QFC Law
      Decision Notice a notice issued by the Regulatory Authority under Article 71 of these Regulations
      Director General the Director General of the QFC Authority
      Entity a body corporate or partnership or unincorporated association carrying on a trade or business with a view to profit
      Establishment the head office, a branch or permanent place of business of an Entity
      Exercise in relation to a Function, includes perform
      Financial Communication has the meaning set out in Article 80(2)
      Financial Crime the use of the Financial System for criminal, fraudulent or dishonest purposes, including insider dealing, market abuse, handling the proceeds of crime, money laundering and terrorist financing
      Financial System the financial system operating in or from the QFC, including those matters to which these Regulations apply
      Function includes authority, duty and power
      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
      Guidance guidance issued, or to be issued, by the Regulatory Authority under Article 17
      Independent Person means an independent person;
      (A) appointed by the Council of Ministers to undertake a review pursuant to paragraph 23 of Schedule 1; or
      (B) appointed by the Regulatory Authority to investigate and deal with complaints against the Regulatory Authority in accordance with paragraph 25 of Schedule 1
      Insolvency Regulations Regulations enacted or to be enacted by the Minister pursuant to the QFC Law relating to insolvency and related requirements and procedures
      Insurer a Person carrying on either or both of the Regulated Activities of Effecting a Contract of Insurance or Carrying Out a Contract of Insurance (as defined in Part 2 of Schedule 3)
      Interested Parties categories of Persons who may be affected by a Relevant Scheme under Part 16 (Control of Business Transfers) as determined from time to time by the Regulatory Authority
      International Regulatory Association an international or supranational association or forum of regulatory or governmental authorities or bodies or similar organisation
      Investigator a Person appointed to conduct an investigation under Part 8 (Supervision and Investigations)
      Investment a Share, Debt Instrument, Warrant, Securities Receipt Unit in a Collective Investment Fund, Option, Future, or Contract for Differences (each as defined in Part 3 of Schedule 3)
      Law a Law of the State
      Licence a licence, approval or authorisation to operate in the QFC issued by the QFC Authority pursuant to Article 11.1 of the QFC Law
      LLP a limited liability partnership established under the LLP Regulations
      LLP Regulations Regulations enacted or to be enacted by the Minister pursuant to the QFC Law relating to the establishment of LLPs
      Long Term Insurer a Person carrying on either or both of the Regulated Activities of:
      (A) Effecting a Contract of Insurance that is a Long Term Insurance Contract; or
      (B) Carrying out a Contract of Insurance that is a Long Term Insurance Contract
      (as described in Part 2 of Schedule 3)
      Minister the Minister of Economy and Finance of the State
      Nominated Person a Person nominated or approved by the Regulatory Authority to undertake a report pursuant to Article 49
      Non-Regulated Activities activities which are not Regulated Activities
      Overseas Regulator a regulatory or governmental authority, body or agency in a jurisdiction outside the QFC (whether in the State or otherwise)
      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
      Permitted Activities the activities listed in Part 4 of Schedule 3 and described as such and designated by the Council of Ministers under Article 10(1) of the QFC Law
      Person includes a natural or legal person, body corporate, or body unincorporate, including a branch, company, partnership, unincorporated association or other undertaking, government or state
      Principles of Good Regulation the principles described in Article 13
      Protected Item a communication between a professional legal adviser and his client or any Person representing his client, which is made either in connection with the giving of legal advice to the client or in connection with, or in contemplation of, legal proceedings (including the exercise of powers by the Regulatory Authority under these Regulations, Appeals Body proceedings and proceedings before the Tribunal) and for the purposes of those proceedings
      QFC the Qatar Financial Centre
      QFC Authority or QFCA the Qatar Financial Centre Authority established pursuant to Article 3 of the QFC Law
      QFC Entity a Company incorporated under the Companies Regulations or an LLP incorporated under the LLP Regulations
      QFC Institutions the CRO, the Tribunal and any other institution or body created under Article 6 or Article 9 of the QFC Law
      QFC Law Law No. (7) of 2005 of the State, as amended from time to time
      QFC Licensed Firm an Entity which has been granted a Licence by the QFCA
      Registrar the Registrar of the Appeals Body as described in Schedule 4
      Regulated Activities has the meaning set out in Article 23
      Regulations Regulations enacted by the Minister in accordance with Article 9 of the QFC Law
      Regulatory Authority the Regulatory Authority of the QFC established pursuant to Article 8 of the QFC Law
      Regulatory Authority Board the board of Regulatory Authority as described in Schedule 1
      Regulatory Objectives the objectives of the Regulatory Authority set out in Article 12 of these Regulations
      Related Regulations any Regulations conferring powers, duties or functions on the Regulatory Authority or Persons specified in Article 19(1) (as the case may be) or with respect to which the Regulatory Authority or such Persons have powers, duties or functions (whether by virtue of delegation, assignment or otherwise)
      Relevant Requirement has the meaning set out in Article 84(1)
      Relevant Scheme a transfer scheme described in Article 94(4) (Control of Business Transfers)
      Rules rules made by the Regulatory Authority, and includes standards, principles and codes of practice
      Scheme Report a report on the terms of a Relevant Scheme in accordance with Part 16 of this Regulation (Control of Business Transfers)
      Specified Activity an activity that is a Specified Activity under Part 2 of Schedule 3
      Specified Product an Investment or other type of product that is a Specified Product under Part 3 of Schedule 3
      State the State of Qatar
      Subsidiary an Entity is a Subsidiary of another Entity if that other Entity is the Parent Entity of the first Entity
      TDR Regulations Regulations enacted or to be enacted by the Minister pursuant to the QFC Law relating to the Tribunal and the resolution of disputes
      Third Party has the meaning given to it in Article 76(1)(A) (Third Parties Affected by Decision Notices)
      Tribunal the tribunal established or to be established pursuant to the TDR Regulations
      Winding-up Resolution a resolution for the voluntary winding-up of a Company made in accordance with the Insolvency Regulations

      Amended by QFC Reg 2010-2 (as from 9th December 2010)