Article 8 – The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court

1. Notwithstanding any provision to the contrary in this or any other Law or regulation The Regulatory Authority is hereby established for the purposes of regulating, licensing and supervising banking, financial and insurance-related businesses carried on in or from The QFC and, without prejudice to any provisions of this Law or Regulations of general application to persons establishing or carrying on any business in The QFC, The Regulatory Authority shall be the sole body with jurisdiction to regulate, license and supervise such activities. The Regulatory Authority is a body corporate owned by the State.

Subject to the provisions of this Law, including the provisions set out in Schedule 4, Regulations made with the consent of the Council of Ministers shall define the management, objectives, duties, functions, powers and constitution of The Regulatory Authority (including, without limitation, the exact activities which shall fall to be regulated, licensed and supervised by The Regulatory Authority) and such Regulations may only be varied or revoked with the consent of The Council of Ministers.
2. pursuant to This Law, A Tribunal Called "The Qatar Financial Center Regulatory Tribunal" is hereby established as set out in the following:
a. The Regulatory Tribunal shall consist of one or more circuits, each circuit shall be formed of three judges. The Tribunal shall exercise its jurisdiction as set out in the provisions of Schedule (5) replaced pursuant to Article (4) of this Law.
b. The Headquarter of The Regulatory Tribunal shall be in The QFC, and it may, whenever necessary, conduct its proceedings in any other place in The State.
c. The Regulatory Tribunal shall have the jurisdiction to hear Appeals raised by individuals and corporate bodies against decisions of The QFC Authority, The Regulatory Authority, and other QFC institutions.
3. Pursuant to This Law, A Court Called "The Civil and Commercial Court of The Qatar Financial Center" is hereby established as set out in the following:
a. The Civil and Commercial Court shall be composed of one or more first instance circuit, and an appellate circuit, each circuit shall consist of three Judges. The circuits shall exercise their jurisdiction as set out in the provisions of Schedule (6) added by Article (5) of this Law.
b. The Headquarter of The Civil and Commercial Court shall be in The QFC, and it may, whenever necessary, conduct its proceedings in any other place in The State.
c. The First Instance Circuit of The Court shall have the jurisdiction to hear the following disputes:

c/1- Civil and commercial disputes arising from transactions, contracts, arrangements or incidences taking place in or from the QFC between the entities established therein.

c/2- Civil and commercial disputes arising between The QFC authorities or institutions and the entities established therein.

c/3- Civil and commercial disputes arising between entities established in The QFC and contractors therewith and employees thereof, unless the parties agree otherwise.

c/4- Civil and commercial disputes arising from transactions, contracts or arrangements taking place between entities established within The QFC and residents of The State, or entities established in the State but outside The QFC, unless the parties agree otherwise.
d. The Appellate Circuit of The Civil and Commercial Court shall have the jurisdiction to hear appeals against decisions of The First Instance Circuit, as well as appeals against decisions of The Regulatory Tribunal. A member shall not sit in The Appeals Circuit to look over an appealed judgement if such member was a member of the circuit that originally issued the judgement.
4. The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court shall in fulfilling their respective objectives in accordance with this Law each have financial and administrative autonomy from The State, The QFC Authority, The QFC Institutions, and from each other, subject to the power of the Council of Ministers to appoint and remove board members of The Regulatory Authority, members of The Regulatory Tribunal, and members of The Civil and Commercial Court as described in Schedules (4) (5) and (6) respectively. Each of them shall be responsible for any obligations or liabilities arising out of the conduct of their respective activities (subject always to the immunity provided for in Article 16) and the State shall have no liability for their acts or omissions.
5. Each of The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court shall have an independent budget and the laws of the State regarding the general budget of the State and its ministries shall not apply thereto.
6. Subject to The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court having complied with their obligations under this Law and Regulations to prepare and submit their respective annual budgets, the State shall provide adequate funding directly to The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court independent from the budget of the QFC Authority. The Council of Ministers may direct The QFC Authority to provide funding out of its budget to The Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court and also to provide support services provided that it is satisfied that such arrangements will not compromise the independence of those bodies.
7. The Minister shall present the draft Regulations related to the Regulatory Authority, The Regulatory Tribunal and The Civil and Commercial Court, along with his comments to The Council of Ministers for approval.

The Council of Ministers may require such changes, modifications or additions as it thinks fit.
Amended by Law No. (2) of 2009 (as from 24th May 2009).