INMA 4.3.4 What firms may provide guarantees

(1) A firm (the guarantor firm) may provide a guarantee to an INMA firm for this Part only if the guarantor firm has net tangible assets of more than QR35 million.
(2) If the INMA firm is a member of a corporate group in which there is a firm with net tangible assets of more than QR35 million, a firm that is not a member of the group must not provide a guarantee to the INMA firm.

Note Corporate group is defined in the glossary.
(3) A guarantee provided for this Part:
(a) must be in writing; and
(b) must make provision at least equal to the provision required by rule 4.3.2 (Minimum requirements for professional indemnity insurance policies).
(4) The INMA firm must give a copy of the guarantee to the Regulatory Authority.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).