Part 1: Part 1: Application, Commencement and Interpretation
Article 1 - Citation
Regulationsmay be referred to as the Companies Regulations 2005.
Article 2 - Application
Regulationsare made by the Ministerpursuant to Article 9 of the QFC Law and shall apply in the QFC. To the fullest extent permitted by the QFC Law, the laws, rules and regulations of the Stateconcerning companies and branches or offices of foreign companies and investments therein, including without limitation the Commercial Companies Law No.(5) of 2002 and the Foreign Investment Law No.(13) of 2000, shall not apply in the QFC.
Article 3 - Commencement
Regulationsshall come into force on the date of their signature by the Minister.
Article 4 - Language
In accordance with Article 9 of the QFC Law, these
Regulationsare written in the English language and the English text thereof shall be the official original text. Any translation thereof into another language shall not be authoritative and in the event of any discrepancy between the English text of these Regulationsand any other version, the English text shall prevail.
Article 5 - Interpretation
Words and expressions used in these
Regulationsand interpretative provisions applying to these Regulationsare set out in Part 14.
Article 5A - Power of QFC Authority and QFC Regulatory Authority to make rules
QFC Authorityand the QFC Regulatory Authority, each within the scope of their jurisdiction, authority or powers conferred upon them may make rules to the extent set out in the QFC Law, these Regulationsand any other Regulationsconferring powers, duties and functions on the QFC Authorityand QFC Regulatory Authorityas they deem necessary or appropriate to implement, carry out or enforce these Regulations. Amended (as from 5th April 2015).