GENE 11.1.3 Exclusion of certain captive finance to commercial customers

For FSR, article 25 (2), providing captive finance is not regarded as carried on by way of business (and is therefore not a regulated activity) if it is carried on by way of commercial captive finance.

Note An entity that provides captive finance to commercial customers (and carries on no other regulated activity) in or from the QFC in the circumstances described in rule 11.1.3 need only be licensed and does not need to apply for an authorisation from the Regulatory Authority.

Amended by QFCRA RM/2020-6 (as from 15th October 2020)