Article 6 - Interrelation with QFC

The QFC was established pursuant to the QFC Law and the commercial operations of the QFC are managed by the QFC Authority. The objectives of the QFC Authority are:

(1) to establish, develop and promote the QFC as a leading location for international finance and business designed to attract international banking, financial services, insurance businesses, corporate head office functions, as well as other business;
(2) to participate, in consultation with the Regulatory Body and the Appeals Body as may be appropriate, in the establishment and maintenance of an appropriate legal and regulatory regime to govern the QFC and activities lawfully conducted within it or conducted outside it by persons, companies or entities established within it;
(3) to ensure the QFC, including the QFC Institutions, have adequate finance or are able to obtain adequate finance, so that they can finance their respective activities without undue difficulty and are financially stable;
(4) to act in accordance with and promote international best practice and to eliminate bureaucracy to the maximum extent possible; and
(5) all other things reasonably considered by it to be necessary, desirable or appropriate to achieve, further or assist in relation to any of the above objects.