Article 3 – QFC Authority

1. The business of operating the QFC shall be managed in accordance with its objectives in Article 5 by an authority known as the Qatar Financial Centre Authority (the “ QFC Authority”), which is hereby established. The QFC Authority shall have an independent legal personality and full capacity to act as such in accordance with this Law, and shall have financial and administrative independence from the State (save as expressly provided by this Law). The QFC Authority shall have the capacity to enter into contracts, to sue and to be sued and to own and lease assets of all types. It shall be responsible for obligations and liabilities arising out of the conduct of its activities (subject always to the immunity provided for in Article 16) and the State shall have no liability for its acts or omissions.
2. The headquarters of the QFC Authority shall be in the QFC.
3. The QFC Authority shall be managed by the Board.
4. The QFC Authority shall conduct its affairs in accordance with this Law and, subject to this, shall have power, by decision of the Board, to determine its own procedures and management.
5. The Minister shall be the Chairman.