Article 16 – Liability of QFC Authority, The Regulatory Authority, The Regulatory Tribunal, The Civil and Commercial Court and QFC Institutions
1. Without prejudice to the provisions of Article 16(2) and (3), The
QFC Authority; The Regulatory Authority; The Regulatory Tribunal; The Civil and Commercial Court; all QFC institutions; all the members of the Board of Directors of The QFC Authority including the Chairman and Director General; all the members of The Board of Directors of the Regulatory Authority; the chairman and judges of the Regulatory Tribunal; the chairman and the judges of The Civil and Commercial Court; QFC position holders; the employees of the QFC Authority, The Regulatory Authority, The Regulatory Tribunal, the Civil and Commercial Court, and any QFC authority that may be later established, shall not be subject to any civil liability in relation to all acts or omissions done or omitted to be done or negligence in good faith during course of performing or trying to perform their duties, powers, responsibilities and tasks as prescribed in this Law or regulations, or provisions thereof.
2. This Article does not relieve the
QFC Authority or any member of the Board or officer of the QFC Authority from civil liability in relation to any commercial activities undertaken by the QFC Authority.
QFC Authority, The Regulatory Authority, The Regulatory Tribunal, The Civil and Commercial Court, or any QFC institutions, the heads, members and employees of those bodies, as the case may be, shall not be exempted from civil liability relating to any commercial contract to which any of those bodies is a party.
|Amended by Law No. (2) of 2009 (as from 24th May 2009).|