Article 95 - Definitions

(1) The following words and phrases shall where the context permits have the meaning shown against each of them:

Address
(A) if an individual, his usual residential address; and
(B) if an Entity, its registered or principal office
Authorised Firm a person that has been granted an authorisation in accordance with Parts of the Financial Services Regulations
Body Corporate any body corporate, whether incorporated or constituted in the QFC or elsewhere
Branch a branch of a Non-QFC Partnership registered in the QFC under these Regulations or any other Regulations
Business includes every trade, profession and occupation
Collective Investment Fund a fund that is a Collective investment Fund for the purposes of the QFC Financial Services Regulations
Companies Regulations Regulations enacted or to be enacted by the Minister pursuant to the QFC Law relating to the incorporation of Companies and related requirements and procedures
Competing Business means a Business carried on by a Partner, without the agreement of all the other Partners, which competes with and is of the same nature as the PartnershipBusiness
Council of Ministers the Council of Ministers of the State
CRO the Companies Registration Office established pursuant to Article 7 of the QFC Law
Default Rule has the meaning given by Article 12(1)
Document includes any Document in writing, including, where permitted, a Document in writing in electronic form
Entity a Body Corporate or Partnership or unincorporated association carrying on Business with a view to a profit
Fixed Term Partnership means a Partnership where the Partnership Agreement provides that the Partnership is to end on the expiry of a specified period
General Partner has the meaning given by Article 37
General Partnership has the meaning given by Article 9
IFRS International Financial Reporting Standards
Incorporation Document shall be construed in accordance with Article 46 of these Regulations
Joining Premium means a premium in respect of-
(a) becoming a Partner when the Partnership is formed, or
(b) becoming a Partner after its formation
Liabilities includes any amount reasonably necessary to retain for the purpose of providing for any liability or loss which is either likely to be incurred or certain to be incurred but uncertain as to the amount or as to the date on which it will arise
Limited Partner is a Partner with limited liability as set out in Article 37
Limited Partnership has the meaning given by Article 9
Losses includes Losses of a capital nature
Minister the Minister of Economy and Commerce of the State
Name
(A) if an individual, his forename and surname (or, in the case of a person usually known by a title, his title instead of or in addition to either or both of his forename and surname); and
(B) if an Entity, its corporate name of firm name
Necessary Consent means consent to any act which is necessary or proper for publishing the notice and cannot be done without the agreement of the Partnership or Partner
Non-QFC Partnership a Partnership incorporated or otherwise established outside the QFC
Partner has the meaning given by Article 7
Partnership has the meaning given by Article 7
Partnership Agreement has the meaning given in Article 7 of these Regulations
Partnership Losses In relation to a Partner, means Losses of the PartnershipBusiness incurred while he is a Partner
Partnership Matters means matters affecting the Partnership of which the other Partners would reasonably expect to be kept informed
Partnership Obligation has the meaning given by Article 24(3)
Partnership of defined duration means a Partnership where the Partnership Agreement provides that the Partnership is to end:
(a) on the expiry of a specified period, or
(b) on the accomplishment of a venture that the Partnership was formed to undertake
Partnership Profits In relation to a Partner, means profits of the PartnershipBusiness which accrue while he is a Partner
Partnership Property means all Property acquired on behalf of the Partnership, or contributed to the Partnership as capital
Person interested in the winding up means —
(a) a person ("A") who ceased to be a Partner on or after the break up.
(b) if A has died, his personal representative, or
(c) if A ceased to be a Partner for reasons of insolvency, the insolvency practitioner appointed in relation to him
Prescribed Fee a fee prescribed in rules made by or approved by the QFC Authority
Prescribed Form a form prescribed by or approved by the QFC Authority
Prescribed Form means: —
(a) 3% above the base rate, or
(b) such other rate of interest as may be prescribed by an order made by the QFC Authority,
and "the base rate" means the interest rate set by Qatar Central Bank which is used as the basis for other banks' rates
Principal Place of Business means, in the case of a Partnership with only one place of Business, that place
Principal Representative a person appointed under Article 75(2)(a) of these Regulations
Profits includes Profits of a capital nature
Property includes money and all other property, real or personal, heritable or moveable, including things in action and other intangible or incorporeal property
QFC the Qatar Financial Centre
QFC Authority the Qatar Financial Centre Authority established pursuant to Article 3 of the QFC Law
QFC Law Law No.(7) of 2005 of the State
Records Documents and other records however stored
Registrar the Registrar of the CRO appointed under Article 13 of the Companies Regulations
Regulations Regulations enacted by the Minister in accordance with Article 9 of the QFC Law
Regulatory Authority the Regulatory Authority of the QFC established pursuant to Article 8 of the QFC Law
Relevant Capital Contribution means a capital contribution consisting of either or both of:—
(a) a sum or sums of money, and
(b) Property which has an agreed capital value
Schedule the Schedule to these Regulations
Secret profit means any benefit which the Partner derives, without the agreement of all the other Partners, from:
(a) a transaction affecting the Partnership, or
(b) the use by him of Partnership Property or trust Property or the PartnershipName or Business connection
State the State of Qatar
TDR Regulations Regulations enacted or to be enacted by the Minister with the consent of the Council of Ministers pursuant to the QFC Law relating to the Tribunal and the resolution of disputes
Tribunal the Tribunal established by the TDR Regulations
UK GAAP generally accepted accounting principles in the United Kingdom
US GAAP generaily accepted accounting principles in the United States of America