• MKT 1.4 MKT 1.4 Interpreting the Rulebook

    • Guidance

      • Interpretation

        1. Every provision in the Rulebook must be interpreted in the light of its purpose. The purpose of any provision is to be gathered first and foremost from the text of the provision in question and its context among other relevant provisions.
        2. When this section refers to a provision, this means every type of provision, including Rules and Guidance.
        3. Where reference is made in the Rulebook to another provision of the Rulebook or other ADGM legislation, it is a reference to that provision as amended from time to time.
        4. Unless the contrary intention appears:
        a. words in the Rulebook importing the masculine gender include the feminine gender and words importing the feminine gender include the masculine; and
        b. words in the Rulebook in the singular include the plural and words in the plural include the singular.
        5. If a provision in the Rulebook refers to a communication, notice, agreement, or other document "in writing" then, unless the contrary intention appears, it means in legible form and capable of being reproduced on paper, irrespective of the medium used. Expressions related to writing must be interpreted accordingly.
        6. Any reference to "dollars" or "$" is a reference to United States Dollars unless the contrary intention appears.
        7. Unless stated otherwise, a day means a calendar day. If an obligation falls on a calendar day which is either a Friday or Saturday or an official State holiday in the ADGM, the obligation must take place on the next calendar day which is a Business Day.
        8. Unless stated otherwise, a month means 30 calendar days.

      • Defined terms

        9. Defined terms are identified throughout the Rulebook by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary ("GLO"). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.