PRIV Glossary
(see r 1.1.5)
AAOIFI means the Accounting and Auditing Organisation for Islamic Financial Institutions.
accounting reference date, for a scheme, means the date stated in the scheme's latest filed prospectus as the date when the scheme's annual accounting period ends.
Note Latest filed prospectus and annual accounting period are defined in this glossary.
advising on investments means the regulated activity described in the
Note Regulated activity is defined in this glossary.
affected person, for a scheme, has the meaning given by rule 5.1.1.
annual accounting period, for a scheme, means an annual accounting period of the scheme under these rules.
another permitted form of scheme has the meaning given by rule 1.2.15.
arranging deals in investments means the regulated activity described in the
Note Regulated activity is defined in this glossary.
articles of association, for a CIC, means the CIC's articles of association as amended from time to time.
Note CIC is defined in r 1.2.12 and in this glossary.
associated person, for a person (A), means any of the following:
Note Legal person and group are defined in this glossary.
authorisation means an authorisation granted under the
authorised firm means a person that has an authorisation.
Note Person and authorisation are defined in this glossary.
base currency, for a scheme, means the currency stated in the constitutional document as the base currency of the scheme.
Note Constitutional document is defined in r 3.1.1.
borrowing, for a scheme, includes any arrangement (including a combination of derivatives) designed to achieve a temporary injection of money into the scheme property in the expectation that the amount will be repaid.
Note Derivative is defined in this glossary.
breach includes fail or refuse to comply with.
business customer has the same meaning as in CIPR.
business day means a day that is not a Friday, Saturday, or a public or bank holiday in Qatar.
capital property, for a scheme, means the scheme property, other than income property and any amount in the distribution account (if any).
Note Scheme property is defined in r 1.2.3. Income property and distribution account are defined in this glossary.
CIC means a collective investment company.
Note Collective investment company is defined in r 1.2.12.
CIP means a collective investment partnership.
Note Collective investment partnership is defined in r 1.2.13.
CIPR means Customer and Investor Protection Rules 2019.
CIT means a collective investment trust.
Note Collective investment trust is defined in r 1.2.14.
class, for a scheme, means—
Note Unit is defined in r 1.2.4. Umbrella scheme and subscheme are defined in r 1.2.8.
closed-ended scheme has the meaning given by rule 1.2.7 (2).
COLL means the
collateral—
Note Stock lending arrangement, repo agreement and derivative are defined in this glossary.
collective investment company (or CIC) has the meaning given by rule 1.2.12.
collective investment partnership (or CIP) has the meaning given by rule 1.2.13.
collective investment scheme has the meaning given by rule 1.2.1.
collective investment trust (or CIT) has the meaning given by rule 1.2.14.
constitutional document, for a scheme, has the meaning given by rule 3.1.1.
contract for differences means the specified product described in the
Note Specified product is defined in this glossary.
contract of insurance means the specified product described in the
Note Specified product is defined in this glossary.
controlled function has the meaning given by the
Note See CTRL, ch 3, for the functions that are controlled functions.
corporation — to remove any doubt, a corporation includes, but is not limited to—
CTRL means the Governance and Controlled Functions Rules 2012.
customer means a person to whom an authorised firm provides, has provided or offers to provide a service or product, and includes a business customer of the firm.
day means a period of 24 hours starting at midnight.
deal—
Note Issue and redemption are defined in this glossary.
Note Investment and contract of insurance are defined in this glossary.
dealing day, for an open-ended scheme, means the period (if any) in a business day during which, in accordance with the latest filed prospectus, the operator is open to deal in units in the scheme.
Note Business day, latest filed prospectus and deal are defined in this glossary. Open-ended scheme is defined in r 1.2.7 (1).
dealing in investments means the regulated activity described in the
Note Regulated activity is defined in this glossary.
dealing period, for an open-ended scheme, means the period between a valuation point and the next.
Note Open-ended scheme is defined in r 1.2.7 (1). Valuation point is defined in this glossary.
debt instrument means the specified product described in the
Note Specified product is defined in this glossary.
dedicated, for investments of a scheme, means intended that the unitholders of units in the scheme should participate or receive—
Note Investment is defined in this glossary.
derivative means a future, option or contract for differences.
Note Future, option and contract for differences are defined in this glossary.
dilution, for a scheme, means the amount of costs for dealing in investments incurred, or expected to be incurred, by the operator to the extent that these costs may reasonably be expected to result, or have resulted, from the acquisition, holding, management or disposal of investments by the operator as a consequence (whether or not immediate) of the increase or decrease of the cash resources of the scheme resulting from the issue or redemption of units over a period, including—
Note Investment, issue and redemption are defined in this glossary.
dilution adjustment, for a scheme, means an adjustment to the price of a unit required by the operator under these rules for the purpose of reducing the effect of dilution.
Note Price and dilution are defined in this glossary.
dilution levy, for a scheme, means a charge at the rate, or of the amount, required by the operator under these rules for the purpose of reducing the effect of dilution.
Note Dilution is defined in this glossary.
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.
Note Entity and person are defined in this glossary.
distribution account, for a scheme, means the account (if any) to which the income property must be transferred as at the end of each annual accounting period.
Note Income property and annual accounting period are defined in this glossary.
document means a record of information in any form (including electronic form), and includes, for example—
Note Writing is defined in this glossary.
document evidencing title means any means of evidencing title, whether or not in documentary form.
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.
execute a transaction means carry into effect or perform the transaction, whether as principal or agent, and includes instructing another person to effect or perform the transaction.
exercise a function means exercise or perform the function.
Note Function is defined in this glossary.
feeder fund means a scheme dedicated to investments in a single other scheme.
Note Dedicated and investment are defined in this glossary.
financial promotion means a communication made using any medium (for example, brochures, telephone calls, the internet, emails and presentations) if the purpose or effect of the communication is—
Note Specified product, regulated activity and person are defined in the glossary.
forward price, for units in a scheme, means a price calculated by reference to the next valuation point after the operator receives instructions to issue or redeem the units.
Note Issue, redemption, price and valuation point are defined in this glossary.
function means any function, authority, duty or power.
fund of funds means a scheme dedicated to investments in 2 or more of the following:
Note Subscheme and umbrella scheme are defined in r 1.2.8.
future means the specified product described in the
Note Specified product is defined in this glossary.
GENE means the
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.
half-yearly accounting period, for a scheme, means a half-yearly accounting period of the scheme under these rules.
INAP means the
income equalisation, for a scheme, means a capital amount that, in accordance with a power in the constitutional document, is included in an allocation of income for a unit issued during the accounting period in relation to which the income allocation is made.
Note Constitutional document is defined in r 3.1.1. Issue is defined in this glossary.
income property, for a scheme, means all amounts considered by the operator, after consultation with the scheme's auditor, to be of the nature of income received or receivable in relation to the scheme property, other than any amount in the distribution account (if any).
Note Scheme property is defined in r 1.2.3. Distribution account is defined in this glossary.
initial offer means—
Note Scheme property is defined in r 1.2.3. Umbrella scheme and subscheme are defined in r 1.2.8.
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.
investment means any investment, including any asset, right or interest.
investment adviser, for a scheme, means a person who is retained by the operator, under a commercial arrangement that is not a contract of service, to provide the operator with advice about—
ISFI means the Islamic Finance Rules 2005.
Islamic fund has the meaning given by rule 1.2.9.
issue, of a unit in a scheme, means the issue of a new unit in the scheme by the operator on behalf of the scheme.
jurisdiction means any kind of legal jurisdiction, and includes, for example—
Note The State is defined in this glossary.
larger denomination share has the meaning given by rule 3.2.2 (2).
latest filed prospectus, of a scheme, means the prospectus (including any revised or supplementary prospectus) of the scheme most recently filed with the Regulatory Authority under these rules.
Note Prospectus is defined in this glossary.
latest filed translation, of a prospectus of a scheme in relation to a language, means the translation of the prospectus in that language most recently filed with the Regulatory Authority under these rules.
Note Prospectus is defined in this glossary.
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.
managing investments means the regulated activity described in the
Note Regulated activity is defined in this glossary.
money means any form of money, including cheques and other payable orders.
month means calendar month.
net asset value, of a scheme at any time, means the value of the assets (including current assets) of the scheme at that time after deducting—
net asset value per unit, for a scheme at any time, means the net asset value of the scheme at that time divided by the number of units in issue at that time.
Note Net asset value is defined in this glossary. Unit is defined in r 1.2.4.
office includes position.
open-ended scheme has the meaning given by rule 1.2.7 (1).
operating collective investment schemes means the regulated activity described in the
Note Regulated activity is defined in this glossary.
operator, of a scheme, has the meaning given by rule 1.2.6.
option means the specified product described in the
Note Specified product is defined in this glossary.
ordinary resolution, for a scheme or a class of units in a scheme, means a resolution passed at a general meeting of the scheme or a separate meeting of unitholders of that class of units if—
Note Class is defined in this glossary.
outsourcing has the meaning given by rule 6.5.1.
parent entity, for a legal person (A), means any of the following:
Note Legal person and group are defined in this glossary.
participant in a scheme has the meaning given by rule 1.2.2.
partnership agreement, for a CIP, means the CIP's partnership agreement as amended from time to time.
Note CIP is defined in r 1.2.13 and this glossary.
person means—
Note Office and legal person are defined in this glossary.
personal data means any information relating to an individual who can be identified, directly or indirectly, in particular by reference to an identification number or to 1 or more factors specific to the individual's physical, physiological, mental, economic, cultural or social identity.
price, of a unit in a scheme, means the price of the unit calculated in accordance with these rules.
Note Unit is defined in r 1.2.4.
PRIV means these rules.
private placement scheme has the meaning given by rule 1.1.4.
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.
property fund — a scheme, or subscheme of an umbrella scheme, is a property fund if the scheme or subscheme is dedicated to investments in immovables.
Note Subscheme and umbrella scheme are defined in r 1.2.8. Dedicated and investment are defined in this glossary.
property-related assets means any of the following:
Note Share, debt instrument, warrant, entity, investment and securities receipt are defined in this glossary.
prospectus, of a scheme, means a document (whatever called) containing information about the scheme, and includes a revised or supplementary prospectus.
Note Document is defined in this glossary.
providing custody services means the regulated activity described in the
Note Regulated activity is defined in this glossary.
QFC means the Qatar Financial Centre.
QFC Court means the Qatar Financial Centre Civil and Commercial Court.
QFC Law means Law No. (7) of 2005 of the State.
Note The State is defined in this glossary.
qualified investor has the meaning given by rule 1.2.10.
redemption, of a unit in a scheme, means the redemption of an existing unit in the scheme by the operator on behalf of the scheme.
regulated activity means an activity that is a regulated activity under the
Regulatory Authority means the Regulatory Authority of the QFC.
related person — a person (A) is a related person for another person (B) if—
Note Legal person and group are defined in this glossary.
Note Director is defined in this glossary.
relevant investment activities means all or any of the following regulated activities:
Note Regulated activity and the regulated activities mentioned in this definition are defined in this glossary.
relevant requirement — a person breaches a relevant requirement in the circumstances described in the
Note Breach is defined in this glossary.
remuneration means any form of remuneration, and includes benefits of any kind.
repo agreement means an agreement—
Note Security is defined in this glossary.
scheme means a collective investment scheme.
Note Collective investment scheme (or scheme) is defined in r 1.2.1.
scheme of arrangement means an arrangement relating to a scheme (the transferor scheme), or to a subscheme of an umbrella scheme (the transferor subscheme), under which—
Note Property is defined in this glossary.
scheme property, of a scheme, has the meaning given by rule 1.2.3.
securities receipt means the specified product described in the
Note Specified product is defined in this glossary.
security means any of the following:
Note Share, debt instrument, warrant and securities receipt are defined in this glossary.
sell an investment means sell the investment in any way, and includes the following:
Note Investment is defined in this glossary.
senior manager, of the operator of a scheme, means an individual employed by the operator, or by a member of the operator's group, who has responsibility either alone or with others for the management or supervision of 1 or more elements of the operator's business relevant to its functions in relation to the scheme.
Note Group and function are defined in this glossary.
series of transactions means a series of transactions executed to achieve a single investment decision or objective.
Note Execute is defined in this glossary.
share means the specified product described in the
Note Specified product is defined in this glossary.
Shari'a Supervisory Board, of an Islamic fund, means the board constituted for the Islamic fund under rule 6.9.1.
Note Islamic fund is defined in r 1.2.9.
smaller denomination share has the meaning given by rule 3.2.2 (2).
special resolution, for a scheme or a class of units in a scheme, means a resolution passed at a general meeting of the scheme or a separate meeting of unitholders of that class of units if—
Note Class is defined in this glossary.
specified product means an investment or other type of product that is a specified product under the
stock lending arrangement means an arrangement between a person (the borrower) and another person (the lender) under which—
Note Security is defined in this glossary.
subscheme, of an umbrella scheme, has the meaning given by rule 1.2.8 (2).
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.
the State means the State of Qatar.
trust instrument, for a CIT, means the CIT's trust instrument as amended from time to time, and includes any instrument expressed to be supplemental to it (as amended from time to time).
Note CIT is defined in r 1.2.14 and this glossary. Instrument is defined in this glossary.
umbrella scheme has the meaning given by rule 1.2.8 (1).
unit in a scheme has the meaning given by rule 1.2.4.
unitholder, of a unit in a scheme, has the meaning given by rule 1.2.5.
unitholder register, for a scheme, means the register of unitholders kept under these rules for the scheme.
valuation point, for a scheme, means a valuation point fixed by the operator in accordance with these rules and stated in the latest filed prospectus.
Note Latest filed prospectus is defined in the glossary.
warrant means the specified product described in the
Note Specified product 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.
Amended by QFCRA RM/2019-4 (as from 1st January 2020). |