Article 28 — Contraventions
28.1 If a
Single Family Office carries on any activities other than SFO Activities, it will be in breach of its Licence.
28.2 In such circumstances, the
QFC Authority shall be entitled to give notice to the Single Family Office requiring it to desist from the activities in question with immediate effect. The QFC Authority shall further be entitled to exercise one or more of the powers set out in Article 23 of the QFC Authority Regulations in relation to the Single Family Office.
28.3 If a
Single Family Office carries on any activity that falls within Paragraphs 1 to 9 of Schedule 3 to the QFC Law in or from the QFC by way of business without prior authorisation from the Regulatory Authority, the Single Family Office will be in contravention of a Relevant Requirement under Article 84 of the FSR and will be subject to disciplinary and enforcement action by the Regulatory Authority under the FSR.