• General Rule 11.3 General Rule 11.3 Senior Executive Function

    Inserted (as from 23rd September 2014)

    • General Rule 11.3.1 Senior Executive Function

      The Senior Executive Function is the function of having overall responsibility alone or jointly with one or more individuals:

      (A) for the conduct of the whole of the business of a Licensed Firm; or
      (B) in the case of a Non-Local Licensed Firm for the business of the Licensed Firm carried out in or from the QFC.
      Amended (as from 23rd September 2014)

    • General Rule 11.3.2

      The Senior Executive Function must be carried out by an individual who:

      (A) in the case of a Local Licensed Firm is ordinarily resident in the State of Qatar; and
      (B) in the case of a Non-Local Licensed Firm, spends an appropriate proportion of his time in the State of Qatar having regard to responsibilities that the Senior Executive Function entails.
      Amended (as from 25th June 2019)

    • General Rule 11.3.3

      A Single Family Office is not required to have an individual carrying out the Senior Executive Function.

      Amended (as from 23rd September 2014)