Article 90 - General Contraventions
(1) If an Investment Club carries on any activities other than Investment Club activities as set out in its licence, it will be in breach of its licence.
(2) In such circumstances, the QFC Authority shall be entitled to give notice to the Investment Club 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 Investment Club.
(3) A person who:
a. does an act or thing that the person is prohibited from doing under an Article of these Regulations referred to in Schedule 1; or
b. does not do an act or thing that the person is required or directed to do under an Article of these Regulations referred to in Schedule 1; or
c. otherwise contravenes an Article of these Regulations referred to in Schedule 1,
commits a contravention of these Regulations.
(4) In this Article 90, "person" does not include the QFC Authority, the Regulatory Authority, the CRO or the Registrar.
|Derived (as from 20th December 2016).|