5. Amendment of Articles of Association
(1) Article 25.5 of the QFC Special Company Regulations provides that a Special Company must give no less than twenty-one days' prior written notice to the CRO of any proposal to amend its Articles of Association and that the CRO may consult with the QFC Authority and Regulatory Authority as appropriate and object to the proposed amendment if it is not in line with the status of a Special Company.
(2) A Special Company must provide notice to the CRO of such proposed amendment using the form prescribed in Appendix 1 and pay the fee prescribed in Appendix 2 to the CRO.
(3) The Special Company's application must include:
(A) a copy of the proposed amended Articles of Association;
(B) a detailed description of the reasons for the proposed amendment;
(C) confirmation that the proposed amended Articles of Association still comply with the requirements of Article 25 of the QFC Special Company Regulations; and
(D) an explanation as to why the proposed amendment is in line with the status of the Company as a Special Company.
(4) The twenty-one day period prescribed in Article 25.5 of the QFC Special Company Regulations will not begin until the Special Company submits an application conforming in all respects to the above criteria.
|Amended (as from 19th October 2017).|