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Article 157 - Definitions

The following words and phrases shall where the context permits have the meanings shown against each of them:

Address in relation to a Member or Officer of a Company means:
(A) if an individual, his usual residential address; and
(B) if an Entity, its registered or principal office
Affiliated Company any Subsidiary, Holding Company or other member of the same Group
Authorised Firm a person that has been granted an authorisation in accordance with Part 5 of the Financial Services Regulations
Body Corporate any body corporate, whether incorporated or constituted in the QFC or elsewhere
Branch a branch of a Non-QFC Company registered in the QFC under these Regulations or any other Regulations
Business includes every trade, profession and occupation
Business Day a day on which banks are open for ordinary business in the QFC
Cell a Cell created by a PCC for the purpose of segregating and protecting Cellular Assets in the manner provided by Part 4
Cell Shares Shares created and issued by a PCC in respect of one of its Cells pursuant to the provisions of Article 97, the proceeds of the issue of which (the " Cell Share Capital") shall be comprised in the Cellular Assets attributable to that Cell
Cell Share Capital the proceeds of issue of Cell Shares
Cellular Assets the assets of a PCC attributable to the PCC Cells pursuant to Article 95(4)
Collective Investment Fund a fund which is a Collective Investment Fund for the purposes of the Financial Services Regulations
Company a company incorporated in the QFC under these Regulations or any other Regulations
Council of Ministers the Council of Ministers of the State
CRO the Companies Registration Office established pursuant to Article 7 of the QFC Law
Data Protection Regulations and Rules The QFC Data Protection Regulations of 2005 and the rules issued pursuant to them.
Document includes any document in writing, including, where permitted, a document in writing in electronic form
Entity a Body Corporate or partnership or unincorporated association carrying on Business with a view to a profit
Financial Services Regulations the QFC Financial Services Regulations of 2005
Group with respect to an Entity:
(A) that Entity;
(B) any Holding Company of the Entity;
(C) any Subsidiary (direct or indirect) of that Entity or of any Holding Company of that Entity.
Holding Company an Entity is a Holding Company of another Entity if the second Entity is a Subsidiary of the first Entity
IFRS International Financial Reporting Standards
Insolvency Regulations the QFC Insolvency Regulations of 2005
Insurer a Company registered under these Regulations which is an Insurer for the purposes of the Financial Services Regulations
Liabilities includes any amount reasonably necessary to retain for the purpose of providing for any liability or loss which is either likely to be incurred or certain to be incurred but uncertain as to the amount or as to the date on which it will arise
LLC a limited liability company incorporated under these Regulations
Member a member of a Company as defined in Article 19 or Article 92(F) of these Regulations as applicable
Minister the Minister of Finance of the State
Name in relation to a Member or Officer of a Company means:
(A) if an individual, his forename and surname (or, in the case of a person usually known by a title, his title instead of or in addition to either or both his forename and surname); and
(B) if an Entity, its corporate name or firm name.
Nominal Capital the par value of a Share when issued
Non-Cellular Assets the assets of a PCC which are not Cellular Assets
Non-QFC Company a Body Corporate not incorporated in the QFC
Officer any director or secretary of a Company from time to time
Ordinary Resolution a resolution passed by simple majority of such Members of a Company as (being entitled to do so) vote in person or, where proxies are allowed, by proxy at a meeting of the Company of which notice specifying the intention to propose the resolution has been duly given
PCC a company incorporated as, or converted into, a protected cell company in accordance with the provisions of Part 4 of these Regulations
Prescribed Fee a fee prescribed in rules made or approved by the QFC Authority
Prescribed Form a form prescribed by or approved by the QFC Authority
Principal Representative a person appointed under Article 117(2)(A) of these Regulations
QFC the Qatar Financial Centre
QFC Authority the Qatar Financial Centre Authority established pursuant to Article 3 of the QFC Law
QFC Civil and Commercial Court The Civil and Commercial court established purasuant to the QFC Law
QFC Law Law No.(7) of 2005 of the State as amended by Law No.(2) of 2009 and Law No.(14) of 2009
Records Documents and other records however stored
Registrar the Registrar of the CRO appointed under Article 13 of these Regulations
Regulations Regulations enacted by the Minister in accordance with Article 9 of the QFC Law
Regulatory Authority the Regulatory Authority of the QFC established pursuant to Article 8 of the QFC Law
Regulatory Tribunal the tribunal established by the QFC Law.
Schedule a schedule to these Regulations
Security Regulations the QFC Security Regulations of 2011
Share a share in the capital of a Company
Special Resolution a resolution passed by at least 75% of such Members of the Company as (being entitled to do so) vote in person or, where proxies are allowed, by proxy at a meeting of the Company of which notice, specifying the intention to propose the resolution as a special resolution, has been duly given
State the State of Qatar
Subsidiary an Entity is a Subsidiary of another Entity if the second Entity:
(A) holds a majority of the voting rights in the first Entity;
(B) is a member of the first Entity (whether direct or indirect, or through legal or beneficial entitlement) and has the right to appoint or remove a majority of the board of directors of the first Entity;
(C) has the right to exercise a dominant influence over the management and operation of that other Entity through:
(i) provisions contained in the constitutive documents of that other Entity; or
(ii) any contractual arrangement relating to the management and operation of that other Entity; or
(D) is a member of the first Entity (whether direct or indirect, or through legal or beneficial entitlement) and controls alone or pursuant to an agreement with other members or members, a majority of the voting rights in the first Entity;
or if the first Entity is a Subsidiary of another Entity which is itself a Subsidiary of the second Entity
Support Services Provider a body corporate, partnership or limited liability partnership approved by the QFC Authority to provide corporate and administrative services.
Transaction for the purposes of Part 4 of these Regulations, anything (including, without limitation, any agreement, arrangement, dealing, disposition, circumstance, event or relationship) whereby any liability arises or is imposed; and cognate expressions shall be construed accordingly
UK GAAP generally accepted accounting principles in the United Kingdom
US GAAP generally accepted accounting principles in the United States
Wholly Owned Subsidiary an Entity is a Wholly Owned Subsidiary of another Entity if the first Entity has no Members except:
(A) the second Entity; and
(B) wholly owned subsidiaries of, or persons acting on behalf of, the second Entity or the second Entity's wholly owned subsidiaries

Amended (as from 5th April 2015).