3.4.2 Licensing Criteria

When assessing an application to conduct Holding Company Activities, the QFC Authority may consider any of the following criteria, as well as any other criteria which in its sole discretion considers relevant in order to further the QFC Authority's objectives in Article 5 of the QFC Law:

(A) the background and history of the applicant;
(B) the fitness and propriety of individuals performing the Senior Executive Function;
(C) the fitness and propriety of the persons who Control the applicant (for this purpose Control has the meaning set out in the QFCA Rules, Part 2 - General Rules, Rule 8.2.1);
(D) the ownership of the applicant, including the identity and details of Beneficial Owners of the applicant;
(E) whether the proposed business plan of the applicant is likely to be beneficial to the development of the QFC; and
(F) such other criteria as the QFC Authority may consider relevant or necessary.
Amended (as from 19th October 2017).
Amended (as from 6th July 2021).