Article 27 — Registered Office and Support Services Provider
27.1 A Special Purpose Company must appoint and at all times retain a Support Services Provider. A Holding Company may appoint a Support Service Provider. A Support Service Provider shall provide a Special Company with one or more of the following services:
(a) management and administrative services;
(b) services as a registered agent, director or similar officer (including, where permitted, to provide the
Senior Executive Function);
(c) provision of a registered office, place of business or address; and
(d) any of the services at Article 27.1 (a) to (c), and such other services as may be prescribed or directed from time to time by the QFC Authority Rules unless the.
27.2 Where the
Incorporator of the Special Company is a QFC Authority in its sole discretion determines that all or certain rules do not apply or do apply subject to a waiver pursuant to Article 13Licensed Firm, the Special Company may, with the approval of the QFC Authority, satisfy a requirement under Article 27.1 of these Regulations if the Incorporator performs one or more of the relevant functions of the Support Service Provider for the Special Company.
27.3 For the purposes of Article 42 of the Companies Regulations:
(a) where the Support Services Provider of a Special Company has a registered office in the QFC, the Special Company may use that office as its registered address; and
(b) where the Support Services Provider of a Special Company does not have a registered office in the QFC, the Special Company must itself maintain a registered address in the QFC and such address will be considered its registered office and principal business irrespective of the location of its Support Services Provider.
27.4 The QFC Authority may provide by Rules for the manner and circumstances in which a body corporate, partnership or limited liability partnership may be approved to act as a Support Services Provider for the purposes of this Article and the range of services that such entity may provide.
27.5 A Support Services Provider must ensure that it avoids or manages any conflicts of interests that arise as a result of:
(a) the Support Services Provider carrying out one or more functions for a Special Company; or
(b) the Support Services Provider carrying out any other function or activity for a Person other than the Special Company that the Support Service Provider performs one or more functions for.
|Inserted (as from 19th October 2017).|