Article 20 — Designated Representative
Single Family Office must appoint a Designated Representative. The function of acting as a Designated Representative for a Single Family Office shall be an additional Registered Function for the purposes of the QFCA Rules. The QFC Authority may provide by way of Rules issued under Article 6, for additional requirements applying to Designated Representatives.
Designated Representative shall be the point of contact for the QFC Authority with the Single Family Office.
Designated Representative must be ordinarily resident in the State of Qatar.
20.4 If the
Designated Representative leaves the employment of the Single Family Office or otherwise ceases to act as Designated Representative, the Single Family Office must designate a successor and notify the QFC Authority.
Single Family Office must ensure that its Designated Representative has the necessary experience and ability to perform the said function and is of sufficient seniority within the Single Family Office to enable him to:
(a) act on his own authority;
(b) have direct access to senior management of the
Single Family Office;
(c) have access to sufficient resources to fulfil his responsibilities; and
(d) have unrestricted access to information the
Single Family Office has about its Single Family Office Clients.
20.6 If, for any reason, the
QFC Authority considers that an individual does not satisfy or has ceased to satisfy the criteria required for acting as a Designated Representative, it may by notice in writing inform the Single Family Office of its determination and require the Single Family Office to make arrangements for the appointment of an alternative Designated Representative within such period as the QFC Authority considers appropriate in its absolute discretion.