Article 14 – Treatment of Surpluses

Any Income surpluses (whether budgeted for or not) realized by the QFC Authority, the Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court may be retained by it, or returned to the State, as the QFC Authority, the Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court (as appropriate) shall decide.

Any such surpluses may also be applied to the repayment of any indebtedness incurred by The QFC Authority, The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court (as appropriate) or to the creation of a general reserve and such other reserves as its board (or members in the case of the Regulatory Tribunal and The Civil and Commercial Court) may reasonably think fit.

Amended by Law No. (2) of 2009 (as from 24th May 2009).