Investment Clubs Regulations 2016

QFC Reg No 19 – QFC Investment Clubs Regulations
Enactment Notice
Part 1:
Application, Commencement and Interpretation
Article 1 - Citation
Article 2 - Application
Article 3 - Commencement
Article 4 - Language
Article 5 - Interpretation
Article 6 - Power of QFC Authority and QFC Regulatory Authority to make rules
Article 7 - Qatari Nationality
Part 2:
Companies Registration Office
Article 8 - Application of the companies regulations
Part 3:
Limited Liability Company (Investment Clubs)
Section 1: Establishment, Objects and Corporate Capacity
Article 9 - Limited Liability Company (Investment club)
Article 10 - Objects of an Investment Club
Article 11 - Corporate capacity
Article 12 - Transactions entered into prior to corporate existence
Section 2: Incorporation
Article 13 - Incorporation of an Investment Club
Article 14 - Registration
Article 15 - Provision of Information
Section 3: Members and Share Capital
Article 16 - Members
Article 17 - Rectification of register of Members
Article 18 - Allotment of Shares
Article 19 - Subsequent Allotment of Shares
Article 20 - Return as to allotments
Article 21 - Allotment of Shares at a discount
Article 22 - Transfer of Shares
Article 23 - Transfer of Shares requires QFC Authority Non-objection
Article 24 - Issue of certificates
Article 25 - Rights Attaching to Shares
Article 26 - Alteration of Share Capital
Article 27 - Class Rights
Article 28 - Reduction of Share Capital
Article 29 - Power of an Investment Club to purchase own shares
Article 30 - Prohibition of Financial Assistance
Article 31 - Dividends and Other Distributions
Article 32 - Consequences of an unlawful dividend or other distribution
Section 4: Names and Change of Names
Article 33 - Registration of Name
Article 34 - Change of Name
Article 35 - Effect of Change of Name
Article 36 - Power to Require Change of Name
Article 37 - Improper Use of Limited Liability Company (Investment Club)
Article 38 - Similarity of Names
Section 5: Registered Office
Article 39 - Situation of Registered Office
Article 40 - Change of Registered Office
Section 6: Formalities of Carrying on Business
Article 41 - Requirement to Keep Internal Company Registers
Article 42 - Name to Appear Outside Place of Business
Article 43 - Disclosures Required of an Investment Club in the Use of its Name
Section 7: Annual Return
Article 44 - Duty to Deliver Annual Returns
Article 45 - Contents of Annual Return
Section 8: Articles of Association
Article 46 - Standard Articles of Association
Article 47 - Alteration of Articles of Association
Article 48 - Articles Binding on Investment Club and Members
Section 9: Directors and Secretary
Article 49 - Appointment of Directors
Article 50 - Removal of Directors
Article 51 - Powers of Directors
Article 52 - Duties of Directors
Article 53 - Directors' Interests
Article 54 - Prohibition of Financial Assistance to Directors
Article 55 - Payment to Directors for Loss of Office
Article 56 - Validity of Acts of Director
Article 57 - Senior Executive Function
Article 58 - Appointment of Secretary
Article 59 - Exemption, Indemnification and Liability of Officers
Article 60 - Insurance of Officers
Section 10: Meetings and Resolutions
Article 61 - General Meetings
Article 62 - CRO's Power to Call Meeting in Default
Article 63 - Requisition of Meetings of Members
Article 64 - Notice of Meetings
Article 65 - General Provisions as to Meetings and Votes
Article 66 - Proxies
Article 67 - Right to Demand a Poll
Article 68 - Representation of Entity at Meetings
Article 69 - Circulation of Members' Resolution
Article 70 - Conditions to be met before investment club bound to give notice of resolution
Article 71 - Resolutions in Writing of Members
Article 72 - Directors Meetings and Written Resolutions
Article 73 - Participation in Meetings
Article 74 - Minutes
Article 75 - Filing of Resolutions
Section 11: Accounting and Audit Requirements
Article 76 - Appointment of Administration Officer and Maintenance of Accounting Records
Article 77 - Location of Accounting Records
Article 78 - Financial Year of an Investment Club
Article 79 - Investment Club Accounts
Article 80 - Provision of Copy of Accounts to Members
Article 81 - Publication of Accounts
Article 82 - Qualification of Auditor
Article 83 - Appointment and Removal of Auditor
Article 84 - Remuneration of Auditor
Article 85 - Resignation of an Auditor
Article 86 - Auditor's Report to Investment Club
Article 87 - Powers and Duties of Auditor
Article 88 - Auditor's Right to Information
Article 89 - Obstruction of Auditor
Part 4:
Obligations and Contraventions
Article 90 - General Contraventions
Article 91 - Involvement in Contraventions
Article 92 - Imposition of Financial Penalties
Article 93 - Transactions
Article 94 - Custodian
Part 5:
Other Provisions Relating to the CRO
Article 95 - Application of the Companies Regulations
Part 6:
Application to the QFC Civil and Commercial Court
Article 96 - Application of the Companies Regulations
Part 7:
Reporting
Article 97 - Application of the Companies Regulations
Part 8:
Register of Financing Statements
Article 98 - Application of the Companies Regulations
Part 9:
Acquisition of Minorities in Take-Overs
Article 99 - Application of the Companies Regulations
Part 10:
Interpretation and Definitions
Article 100 - Interpretation
Article 101 - Definitions
Schedule 1:
Contraventions with Financial Penalties Stipulated
Schedule 2:
Financing Change Statement