(see r 1.1.3)

approved representative has the meaning given by rule 3.1.7.

associate, for a legal person (A), means any legal person in the same group as A.

Note Legal person and group are defined in this glossary.

authorisation means an authorisation granted under the Financial Services Regulations, part 5.

authorised firm (or firm) means a person that has an authorisation.

Note Person and authorisation are defined in this glossary.

branch means a legal person incorporated in a jurisdiction outside the QFC.

Note Legal person and jurisdiction are defined in this glossary.

breach includes fail to comply with.

business day means a day that is not a Friday, Saturday, or a public or bank holiday in Qatar.

CAPI means the Captive Insurance Business Rules 2011.

captive insurance business has the meaning given by the CAPI, rule 1.2.2.

captive insurance management has the meaning given by rule 1.2.5.

captive insurance manager has the meaning given by rule 1.2.4.

carrying out contracts of insurance means the regulated activity described in the Financial Services Regulations, schedule 3, part 2, paragraph 3.

Note Regulated activity is defined in this glossary.

CIPR means Customer and Investor Protection Rules 2019.

client bank account has the meaning given by rule 3.1.2.

client money has the meaning given by rule 1.2.9.

client money calculation means the calculation under rule 3.9.1.

client money distribution rules means the provisions of chapter 4.

client money protection rules means the provisions of parts 3.3 to 3.9 and chapter 8.

CM requirement has the meaning given by rule 3.9.1.

CM resource has the meaning given by rule 3.9.1.

contract of insurance means the specified product described in the Financial Services Regulations, schedule 3, part 3, paragraph 10.

Note Specified product is defined in this glossary.

customer dispute resolution scheme means the scheme established under the Customer Dispute Resolution Scheme Rules 2019.

day means a period of 24 hours starting at midnight.

director, for an entity, includes any person named as director of the entity and any person in accordance with whose instructions the entity is accustomed to act.

document means a record of information in any form (including electronic form), and includes, for example—

Note Writing is defined in this glossary.

effecting contracts of insurance means the regulated activity described in the Financial Services Regulations, schedule 3, part 2, paragraph 2.

Note Regulated activity is defined in this glossary.

eligible bank means—

Note Person, authorised firm, authorisation and jurisdiction are defined in this glossary.

eligible intermediary means—

Note Person, eligible bank, authorised firm and jurisdiction are defined in this glossary.

employee, of a person (A), means an individual—

entity means any kind of entity, and includes, for example, any person.

Note Person is defined in this glossary.

exercise a function means exercise or perform the function.

Note Function is defined in this glossary.

failure, of a firm, means—

Note Jurisdiction is defined in this glossary.

firm (or authorised firm) means a person that has an authorisation.

Note Person and authorisation are defined in this glossary.

firm-related distribution event, for a firm, means—

Note Jurisdiction and authorisation are defined in this glossary. Client money is defined in rule 1.2.9.

function means any function, authority, duty or power.

governing body, of an entity, means its board of directors, committee of management or other governing body (whatever it is called).

Note Entity is defined in this glossary.

group means the following:

Note Legal person, parent entity and subsidiary are defined in this glossary.

hold money has the meaning given by rule 1.2.10.

INAP means the Interpretation and Application Rules 2005.

INMA means the Investment Management and Advisory Rules 2014.

instrument means an instrument of any kind, and includes, for example, any writing or other document.

Note Writing and document are defined in this glossary.

insurance business has the meaning given by rule 1.2.8.

insurance intermediary has the meaning given by rule 1.2.1.

insurance mediation has the meaning given by rule 1.2.2.

jurisdiction means any kind of legal jurisdiction, and includes, for example—

legal person means an entity (other than an individual) on which the legal system of a jurisdiction confers rights and imposes duties, and includes, for example, any entity that can own, deal with or dispose of property.

Examples

Note Entity, jurisdiction and property are defined in this glossary.

money means any form of money of any currency, and includes cheques and other payable orders.

month means calendar month.

net asset value has the meaning given by rule 2.2.3.

non-QFC intermediary has the meaning given by rule 3.1.8.

office includes position.

paid-up share capital, for a firm that is not a company, means the equity (however described) of the members or owners of the firm.

parent entity, for a legal person (A), means any of the following:

Note Legal person and group are defined in this glossary.

person means—

Note Office and legal person are defined in this glossary.

property means any estate or interest (whether present or future, vested or contingent, or tangible or intangible) in immovables or property of any other kind, and includes, for example—

Note Money, jurisdiction and document are defined in this glossary.

producing intermediary, in relation to a transfer or series of transfers under part 3.7, means a firm to which chapter 3 (Client money) applies.

QFC means the Qatar Financial Centre.

QFC Authority means the Qatar Financial Centre Authority.

QFC insurer has the meaning given by rule 1.2.7.

QFC captive insurer has the meaning given by CAPI, rule 1.2.1.

regulated activity means an activity that is a regulated activity under the Financial Services Regulations.

Regulatory Authority means the Regulatory Authority of the QFC.

reinsurance contract means a contract of insurance covering all or part of a risk to which a person is exposed under a contract of insurance.

Note Contract of insurance and person are defined in this glossary.

relevant investments: investments of the following kinds (in each case, within the meaning given in FSR, Schedule 3, Part 3), and rights in such investments, are relevant investments:

shortfall, in relation to a calculation under rule 3.9.1, is the amount by which a firm's CM resource is less than its CM requirement.

specified product means an investment or other type of product that is a specified product under the Financial Services Regulations.

subsidiary-a legal person (A) is a subsidiary of another legal person (B) if B is a parent entity of A.

Note Legal person and parent entity are defined in this glossary.

surplus, in relation to a calculation under rule 3.9.1, is the amount by which a firm's CM resource exceeds its CM requirement.

Note CM resource and CM requirement are defined in rule 3.9.1 and this glossary.

third party-related distribution event, for an eligible bank or eligible intermediary, means—

Note Jurisdiction is defined in this glossary.

writing means any form of writing, and includes, for example, any way of representing or reproducing words, numbers, symbols or anything else in legible form (for example, by printing or photocopying).

year means calendar year.