• 3.2 3.2 Basic Concepts

    • 3.2.1 Permitted Activities

      (1) A Holding Company may only carry out Holding Company Activities to the extent that it is permitted to carry out such activities under its Licence.
      (2) The only activities in which a Holding Company is permitted to engage with any Persons that are outside its Group are the Permitted Activities within the scope of its Licence.
      Amended (as from 19th October 2017).

    • 3.2.2 Ancillary services

      (1) The definition of Holding Company Activities in Article 20.1 of the QFC Special Company Regulations includes activities which are "ancillary" to the activities set out at Article 20.1(a) to (e).
      (2) The QFC Authority may decide on a case by case basis which activities fall within this category.
      Amended (as from 19th October 2017).

    • 3.2.3 Regulated Activities

      A Holding Company must not engage in Regulated Activities by way of business with third parties outside its Group without authorisation from the Regulatory Authority.

      Amended (as from 19th October 2017).

    • 3.2.4 Application of the QFC Companies Regulations

      By virtue of its status as a Holding Company, a Holding Company is exempt from the provisions of the QFC Companies Regulations as set out in the QFC Special Company Regulations.

      Inserted (as from 19th October 2017).