• CHAPTER 2 CHAPTER 2 DISCLOSURE REQUIRED IN CASE OF INDIVIDUAL OR PARTNERSHIP

    • 64. Application of this Chapter

      (1) This Chapter applies to an individual or partnership carrying on business in the Abu Dhabi Global Market under a business name.

      References in this Chapter to "a person to whom this Chapter applies" are to such an individual or partnership.
      (2) For the purposes of this Chapter a "business name" means a name other than —
      (a) in the case of an individual, his family name without any addition other than a permitted addition;
      (b) in the case of a partnership —
      (i) the family names of all partners who are individuals; and
      (ii) the corporate names of all partners who are bodies corporate,
      without any addition other than a permitted addition.
      (3) The following are the permitted additions —
      (a) in the case of an individual, his forename or initial;
      (b) in the case of a partnership —
      (i) the forenames of individual partners or the initials of those forenames; or
      (ii) where two or more individual partners have the same family name, the addition of "s" at the end of that family name;
      (c) in either case, an addition merely indicating that the business is carried on in succession to a former owner of the business.

    • 65. Information required to be disclosed

      (1) The "information required by this Chapter" is —
      (a) in the case of an individual, the individual's name;
      (b) in the case of a partnership, the name of each member of the partnership,
      and, in relation to each person so named, an address at which service of any document relating in any way to the business will be effective.
      (2) If the individual or partnership has a place of business in the Abu Dhabi Global Market, the address must be in the Abu Dhabi Global Market.
      (3) If the individual or partnership does not have a place of business in the Abu Dhabi Global Market, the address must be an address at which service of documents can be effected by physical delivery and the delivery of documents is capable of being recorded by the obtaining of an acknowledgement of delivery.

    • 66. Disclosure required: business documents etc.

      (1) A person to whom this Chapter applies must state the information required by this Chapter, in legible characters, on all —
      (a) business letters;
      (b) written orders for goods or services to be supplied to the business;
      (c) invoices and receipts issued in the course of the business; and
      (d) written demands for payment of debts arising in the course of the business.
      This subsection has effect subject to section 67.
      (2) A person to whom this Chapter applies must secure that the information required by this Chapter is immediately given, by written notice, to any person with whom anything is done or discussed in the course of the business and who asks for that information.
      (3) The Board may make rules requiring that such notices be given in a specified form.

    • 67. Exemption for large partnerships if certain conditions met

      (1) Section 66(1) does not apply in relation to a document issued by a partnership of more than 20 persons if the following conditions are met.
      (2) The conditions are that —
      (a) the partnership maintains at its principal place of business a list of the names of all the partners;
      (b) no partner's name appears in the document, except in the text or as a signatory; and
      (c) the document states in legible characters the address of the partnership's principal place of business and that the list of the partners' names is open to inspection there.
      (3) Where a partnership maintains a list of the partners' names for the purposes of this section, any person may inspect the list during office hours.
      (4) Where an inspection required by a person in accordance with this section is refused, a contravention of these Regulations is committed by any member of the partnership concerned who without reasonable excuse refused the inspection or permitted it to be refused.
      (5) A person who commits the contravention set out in subsection (4) is liable to a fine not exceeding level 3 on the standard fines scale.

    • 68. Disclosure required: business premises

      (1) A person to whom this Chapter applies must, in any premises —
      (a) where the business is carried on; and
      (b) to which customers of the business or suppliers of goods or services to the business have access,
      display in a prominent position, so that it may easily be read by such customers or suppliers, a notice containing the information required by this Chapter.
      (2) The Board may make rules requiring that such notices be displayed in a specified form.

    • 69. Consequences of failure to make required disclosure: contraventions

      (1) A person who without reasonable excuse fails to comply with the requirements of sections 66 or 68 commits a contravention of these Regulations.
      (2) A person who commits the contravention set out in subsection (1) is liable to a fine not exceeding level 3 on the standard fines scale.
      (3) References in this section to the requirements of sections 66 and 68 include the requirements of rules made under those sections.

    • 70. Consequences of failure to make required disclosure

      (1) This section applies to any legal proceedings brought by a person to whom this Chapter applies to enforce a right arising out of a contract made in the course of a business in respect of which he was, at the time the contract was made, in breach of section 66(1) or 66(2) or section 68(1).
      (2) The proceedings shall be dismissed if the defendant to the proceedings shows—
      (a) that he has a claim against the claimant arising out of the contract that he has been unable to pursue by reason of the latter's breach of the requirements of this Chapter; or
      (b) that he has suffered some financial loss in connection with the contract by reason of the claimant's breach of those requirements,
      unless the court before which the proceedings are brought is satisfied that it is just and equitable to permit the proceedings to continue.
      (3) References in this section to the requirements of this Chapter include the requirements of rules made under this Chapter.
      (4) This section does not affect the right of any person to enforce such rights as he may have against another person in any proceedings brought by that person.

    • 71. Interpretation

      In this Part —

      "carrying on business in the Abu Dhabi Global Market" means carrying on a controlled activity in or from the Abu Dhabi Global Market;

      "initial" includes any recognised abbreviation of a name;

      "partnership" means —

      (a) a partnership or limited partnership within the laws of the Abu Dhabi Global Market; or
      (b) a firm or entity of a similar character formed under the law of a country or territory outside the Abu Dhabi Global Market.