• General prohibitions and definitions

    • 58. General prohibition

      (1) A person shall not —
      (a) make an Offer of Securities to the Public in or from the Abu Dhabi Global Market; or
      (b) have Securities admitted to trading on a Recognised Investment Exchange;
      except as provided by or under these Regulations.
      (2) Without limiting the generality of its powers, the Regulator may, by written notice —
      (a) exclude the application of any requirements; or
      (b) deem any investment which is not a Security to be a Security for the purposes of these Regulations and the Rules made under these Regulations;
      subject to such terms and conditions as it may consider appropriate.

    • 59. Definition of an Offer of Securities to the Public

      An Offer of Securities to the Public means a communication to any person in any form or by any means, presenting information on the terms of the Offer and the Securities offered, so as to enable an investor to decide to buy or subscribe to those Securities but excluding —

      (a) any communication in connection with the trading of Securities admitted to trading on a Recognised Investment Exchange;
      (b) any communication made for the purposes of complying with the on-going reporting requirements of the Regulator or a Recognised Investment Exchange; or
      (c) any other communication prescribed in Rules as an exempt communication.

    • 60. Exempt Offerors

      (1) The prohibition in section 58(1) does not apply to any —
      (a) Securities of an Exempt Offeror; or
      (b) Securities which are unconditionally and irrevocably guaranteed by an Exempt Offeror.
      (2) The Regulator may, at its discretion and on its own initiative, include any person in the list of Exempt Offerors maintained by it in circumstances where the requirements prescribed by the Regulator in the Rules are met.