Article 7 — Interaction with the QFC Law, QFC Regulations and Rules
7.1 These Regulations, are made in accordance with, and take effect under the
QFC Law. If there is any conflict or inconsistency between the provisions of the Regulations and the QFC Law, the QFC Law has precedence and the relevant provision will be construed and applied in a consistent manner with the QFC Law.
7.2 Except where the contrary intention is expressly stated, these Regulations do not amend any other regulations made under the
QFC Law and which apply to a Single Family Office.
7.3 These Regulations do not permit or authorise a
Single Family Office to carry on any one or more Regulated Activities in or from the QFC, other than SFO Activities, without prior authorisation of the Regulatory Authority.
7.4 The provisions of these Regulations do not exempt the
Single Family Office from any requirements resulting from the FSR and any of the Regulatory Authority rules if the Single Family Office is also subject to them. If there is any conflict between these Regulations and the FSR or any Regulatory Authority rules, the FSR or Regulatory Authority rules will take precedence.