258. Definitions

Past version: effective from 04/07/2018 - 10/12/2018
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(1) In these Regulations, unless the context otherwise requires —

Abu Dhabi Global Market Financial System means the financial system operating in the Abu Dhabi Global Market and includes —
(a) financial markets including trading venues;
(b) Regulated Activities; and
(c) other activities relating to paragraphs (a) and (b).
Accepted Crypto Asset means a Crypto Asset that, in the opinion of the Regulator, meets the requirements for engaging in the Regulated Activity of Operating a Crypto Asset Business in or from the Abu Dhabi Global Market.
Accepted Market Practices means, for the purposes of Part 8, practices that are reasonably expected in the financial market or markets in question and are accepted by the Regulator.
Accepting Deposits means the Regulated Activity specified in paragraph 38 of Schedule 1.
Acting as a Central Securities Depository means holding securities in dematerialised form to enable book entry transfer of such securities for the purposes of Clearing or settlement of transactions executed on a facility operated by a Recognised Investment Exchange, MTF or OTF or a similar facility regulated and supervised by a Non-Abu Dhabi Global Market Regulator.
Acting as an Insolvency Practitioner is to be read with section 290 of the Insolvency Regulations 2015 and, in any provision of Schedule 1 which provides for activities to be excluded from a Regulated Activity, references to things done by a person acting —
(a) as an Insolvency Practitioner; or
(b) in reasonable contemplation of that person's appointment as an Insolvency Practitioner;
include anything done by the Person's Firm in connection with that person so acting.
Acting as the Administrator of a Collective Investment Fund means the Regulated Activity specified in paragraph 60 of Schedule 1.
Acting as the Trustee of an Investment Trust means the Regulated Activity specified in paragraph 61 of Schedule 1.
ADGM Founding Law Means Abu Dhabi Law No. 4 of 2013 concerning the ADGM issued by His Highness the Ruler of the Emirate of Abu Dhabi.
Administering a Specified Benchmark means the Regulated Activity specified in paragraph 68(1)(b) of Schedule 1.
Administration shall be construed in accordance with section 1(2) of the Insolvency Regulations 2015.
Administrator has the meaning given to that term in section 1(1) of the Insolvency Regulations 2015.
Administrative Receiver has the meaning given to that term in section 152 of the Insolvency Regulations 2015.
Advising on Investments or Credit means the Regulated Activity specified in paragraph 28 of Schedule 1.
Affiliate means, for the purposes of section 202 and in relation to an Authorised Person, any other entity in the Group to which the Authorised Person belongs.
Agreeing to Carry On a Specified Kind of Activity means the Regulated Activity specified in paragraph 70 of Schedule 1.
Agreement means —
(a) for the purposes of section 21, an agreement —
(i) made after that section comes into force; and
(ii) the making or performance of which constitutes, or is part of, the Regulated Activity in question; and
(b) for the purposes of section 22, an agreement —
(i) made after that section comes into force; and
(ii) the making or performance of which constitutes, or is part of, the Regulated Activity in question carried on by the Provider.
Annuities on Human Life does not include superannuation allowances and annuities payable out of any fund applicable solely to the relief and maintenance of persons engaged, or who have been engaged, in any particular profession, trade or employment, or of the dependants of such persons.
Appeals Panel means the panel Appointed by the Board in accordance with section 227.
Applicant means the person applying for a Financial Services Permission under section 27, or its variation under section 32, apart from for the purposes of —
(a) section 25, where it means the person seeking to enforce the agreement or obligation or retain the money or property paid or transferred;
(b) Part 5, where it means an applicant making an application under section 44;
(c) Part 6, where it means the person applying for admission to the Official List;
(d) Part 7, where it means the person applying for an order sanctioning a scheme under section 86;
(e) Part 11, where it means the Fund Manager or Trustee applying for registration of a Domestic Fund which is a Public Fund in accordance with section 107;
(f) Part 12, where it means a Body Corporate which has applied for a recognition order; and
(f) section 245, where it means the person applying to the Court for the grant of an injunction.
Application means, for the purposes of —
(a) section 5 and Part 4, an application for a Financial Services Permission under section 27;
(b) Part 5, an application made under section 44;
(c) Part 6, an application for admission to the Official List;
(d) Part 7, an application for an order sanctioning a Transfer Scheme under section 86;
(e) Chapter 2 of Part 11, an application for registration of a Public Fund;
(f) Part 12, an application for a recognition order; and
(g) section 165, an application made by a Non-Abu Dhabi Global Market Clearing House or Non-Abu Dhabi Global Market Investment Exchange for recognition of its Default Rules.
Appointed means appointed under or as a result of these Regulations.
Appropriate Person means a person appearing to the Regulator to be someone —
(a) to whom the profits mentioned in sections 241(1)(a) or 241(3)(a) are attributable; or
(b) who has suffered the loss or adverse effect mentioned in sections 241(1)(b) and 241(3)(b).
Approval means the approval granted in accordance with section 45.
Approved Person means a person in relation to whom an Approval is given under section 43.
Approved Prospectus means, in relation to Securities to which section 61 applies, a Prospectus approved by the Regulator.
Arranging Credit means the Regulated Activity specified in paragraph 50 of Schedule 1.
Arranging Custody means the Regulated Activity specified in paragraph 46 of Schedule 1.
Arranging Deals in Investments means the Regulated Activity specified in paragraph 16 of Schedule 1.
Asset means, for the purposes of section 168(8)(b), collateral held to cover positions and includes the right to the transfer of assets equivalent to that collateral or the proceeds of the realisation of any collateral, but does not include Default Fund Contributions.
Assets Requirement has the meaning given to that term in section 38(3).
Authorised Person for the purposes of —
(a) section 201, includes a person who was at any time an Authorised Person but who has ceased to be an Authorised Person; and
(b) all other provisions, a person who has a Financial Services Permission to carry on one or more Regulated Activities.
Bank means an Authorised Person which holds a Financial Services Permission to carry on the Regulated Activity of Accepting Deposits.
Behaviour means for the purposes of Part 8, action or inaction.
Benchmark means an index, rate or price that —
(a) is determined from time to time by reference to the state of the market;
(b) is made available to the public (whether free of charge or on payment); and
(c) is used for reference for purposes that include one or more of the following —
(i) determining the interest payable, or other sums due, under loan agreements or under other contracts relating to investments;
(ii) determining the price at which investments may be bought or sold or the value of investments; and
(iii) measuring the performance of investments.
Body Corporate means a company incorporated under the Companies Regulations 2015 and any body corporate constituted under the law of a country, territory or jurisdiction outside the Abu Dhabi Global Market.
Borrower means a person who receives Credit under a Credit Agreement or a person to whom the rights and duties of a borrower under a Credit Agreement have passed by assignment or operation of law.
Business means, for the purposes of section 205 any part of a business even if it does not consist of carrying on Regulated Activities.
Business Day means any day which is not a Friday or Saturday or a public holiday in the Abu Dhabi Global Market.
Buy or Buying includes, for the purposes of Schedule 1, acquiring for valuable consideration.
Capital Requirements Directive means, for the purposes of subsection 199(2), the legislative package consisting of Directive 2013/36/EU of the European Union (commonly referred to as Capital Requirements Directive) and Regulation (EU) No 575/2013 (commonly referred to as Capital Requirements Regulation), as amended from time to time.
Carrying Out Contracts of Insurance as Principal means the Regulated Activity specified in paragraph 32 of Schedule 1.
Cash includes money in any form.
Chairman means the chairman of the members of the Regulatory Committee Appointed in accordance with section 224.
Charge means any form of security, including, for the purposes of section 38 and Part 13, a mortgage.
Chief Executive means —
(a) for the purposes of Part 1 and Part 19, the head of the management of the Regulator;
(b) in relation to a Body Corporate whose principal place of business is within the Abu Dhabi Global Market, an employee of that body who, alone or jointly with one or more others, is responsible under the immediate authority of the Directors, for the conduct of the whole of the business of that body; and
(c) in relation to a Body Corporate whose principal place of business is outside the Abu Dhabi Global Market, means the person who, alone or jointly with one or more others, is responsible for the conduct of its business within the Abu Dhabi Global Market.
Class of Derivatives means a subset of Derivatives sharing common and essential characteristics including at least the relationship with the underlying asset, the type of underlying asset, and currency of notional amount. Derivatives belonging to the same class may have different maturities.
Clearing means, in relation to a Recognised Clearing House, the process of establishing positions with the Recognised Clearing House, including the calculation of net obligations and ensuring that Financial Instruments, Cash, or both, are available to secure the exposures arising from those positions.
Clearing Member means —
(a) in relation to a Recognised Clearing House, an undertaking which participates in a Recognised Clearing House and which is responsible for discharging the financial obligations arising from that participation; and
(b) for the purposes of section 165, a clearing member to which the law of the Abu Dhabi Global Market will apply for the purposes of an Administration or Winding-Up.
Clearing Member Client Contract means a contract between a Recognised Clearing House and one or more of the parties mentioned in section 151(6) which is recorded in the accounts of the Recognised Clearing House as a position held for the account of a Client, an Indirect Client or a group of Clients or Indirect Clients.
Clearing Member House Contract means a contract between a Recognised Clearing House and a Clearing Member recorded in the accounts of the Recognised Clearing House as a position held for the account of a Clearing Member.
Clearing Services means, for the purposes of Part 13
(a) the services provided by a Recognised Body in connection with contracts between each of the parties or the Recognised Body (in place of, or as an alternative to, a contract directly between the parties);
(b) the services provided by a Recognised Body to another Recognised Body in connection with contracts between them; or
(c) the services provided by a Recognised Investment Exchange to a Recognised Clearing House or to another Recognised Investment Exchange in connection with contracts between them;
for the purpose of enabling the rights and liabilities of that member or Recognised Investment Exchange or other Recognised Clearing House under a transaction to be settled.
Client means for the purposes of Part 13, a client —
(a) which offers Indirect Clearing Services; and
(b) to which Regulations will apply for the purposes of an Administration or Winding-Up.
Client Money means the money held by an Authorised Person that is to be handled in accordance with Rules made under section 4.
Client Trade means a contract between two or more of the parties mentioned in section 151(6) which corresponds to a Clearing Member Client Contract.
Close Relative means, in relation to a person —
(a) his spouse;
(b) his children and step children, his parents and step parents, his brothers and sisters and his step brothers and step sisters; and
(c) the spouse of any person within paragraph (b).
Collateral Security Arrangements has the meaning given to that term in section 167(1).
Collective Investment Fund has the meaning given to that term in section 106(1).
Commodity Derivative means investments falling within paragraphs 94, 95 and 96 of Schedule 1, in so far as those investments relate to commodities.
Company means —
(a) any Body Corporate (wherever incorporated); and
(b) any unincorporated body constituted under the law of a country, territory or jurisdiction outside the Abu Dhabi Global Market.
Confidential Information means information which, regardless of whether or not the information was received by virtue of a requirement to provide it imposed by or under these Regulations —
(a) relates to the business or other affairs of any person; and
(b) was received by the recipient for the purposes of, or in the discharge of, any functions of the Regulator under any Rules made by or under these Regulations;
unless —
(c) the information has been made available to the public by virtue of being disclosed in any circumstances in which, or for any purposes for which, disclosure is not precluded by this section; or
(d) it is in the form of a summary or collection of information so framed that it is not possible to ascertain from it information relating to any particular person.
Connected Person has the meaning given to that term in the Rules made by the Regulator in accordance with section 76(2)(a).
Constitution means, in relation to a Fund —
(a) which is in the form of a Body Corporate, the instrument of incorporation;
(b) which is in the form of an Investment Trust, the Trust Deed;
(c) which is in the form of a Partnership, the partnership deed; and
(d) adopting a form other than the one specified in paragraphs (a) to (c), any instrument creating the legal form of the Fund to which the Fund Manager is a party setting out provisions relating to any aspect of the operation or management of the Fund.
Contract of Insurance has the meaning given to that term in Part 4 of Schedule 1.
Contract of Long-Term Insurance means a Contract of Insurance, expressed to be in force for more than one year, where under the terms of the contract any of the following conditions exists —
(a) the payment of the whole or part of the benefits is dependent upon the termination or continuation or human life;
(b) the payment of any part of the premiums is dependent upon the termination or continuation of human life;
(c) the benefits under the contract include payment of a sum on marriage or on the birth of a child; or
(d) the contract is a permanent health insurance contract.
Control has the meaning given to that term in the Rules made by the Regulator.
Control of Information Rules means the Rules made by the Regulator under section 7(3).
Controlled Function means, in relation to the carrying on of a Regulated Activity by an Authorised Person, a function of a description specified in the Rules made by the Regulator.
Controller has the meaning given to that term in the Rules made by the Regulator.
Corporate Governance in relation to an Issuer, includes —
(a) the nature, constitution or functions of the organs of the Issuer;
(b) the manner in which organs of the Issuer conduct themselves;
(c) the requirements imposed on organs of the Issuer;
(d) the relationship between the different organs of the Issuer; and
(e) the relationship between the organs of the Issuer and the members of the Issuer or holders of the Issuer's Financial Instruments.
Counterparty Credit Risk means the risk that the counterparty to a transaction defaults before the final settlement of the transaction's cash flows.
Court of First Instance means the Abu Dhabi Global Market court of first instance established under the ADGM Founding Law.
CRD Information means, for the purposes of subsection 199(2), the Confidential Information received or obtained by the Regulator from the EEA Competent Authority by virtue of the Capital Requirements Directive.
Credit includes any Cash loan or other financial accommodation.
Credit Agreement means any facility which includes any arrangement or agreement which extends monetary Credit whether funded or unfunded to an individual including but not limited to any loan or syndicated loan, mortgage, overdraft, financial lease, letter of credit, financial guarantee, trade finance, transaction finance, project finance or asset finance.
Credit Rating Activities has the meaning given to that term in paragraph 65(2)(a) of Schedule 1.
Crypto Asset means a digital representation of value that can be digitally traded and functions as (1) a medium of exchange; and/or (2) a unit of account; and/or (3) a store of value, but does not have legal tender status in any jurisdiction. A Crypto Asset is—
(a) neither issued nor guaranteed by any jurisdiction, and fulfils the above functions only by agreement within the community of users of the Crypto Asset; and
(b) distinguished from Fiat Currency and E-money.
Crypto Asset Custodian means operating as a Crypto Asset Custodian operating within Abu Dhabi Global Market as part of the Regulated Activity of Operating a Crypto Asset Business.
Crypto Asset Exchange means a Crypto Asset Exchange operating within Abu Dhabi Global Market as part of the Regulated Activity of Operating a Crypto Asset Business.
Customer
(a) means, for the purposes of Schedule 1 and Schedule 2, a person, other than an individual, to whom a supplier sells goods or supplies services, or agrees to do so, and, where the Customer is a member of a Group, also means any other member of that Group; and
(b) means, for all other purposes, a person who is using, or who is or may be contemplating using, any of the services provided by an Authorised Person.
Dealing in Investments as Agent means the Regulated Activity specified in paragraph 12 of Schedule 1.
Dealing in Investments as Principal means the Regulated Activity specified in paragraph 4 of Schedule 1.
Defaulter means, for the purposes of —
(a) Part 13, a person in respect of whom action has been taken by a Recognised Body under its Default Rules, whether by declaring him to be a defaulter or otherwise, and the terms "Default", "Defaults", "Defaulting" and "Non-Defaulting" shall be construed accordingly; and
(b) Part 17, the person described in section 214(1).
Default Proceedings means proceedings taken by a Recognised Body under its Default Rules.
Default Rules means rules of a Recognised Body which provide for —
(a) the taking of action in the event of a person (including the Recognised Body itself or another Recognised Body) appearing to be unable, or likely to become unable, to meet his obligations in respect of one or more Market Contracts connected with the Recognised Body;
(b) arrangements for netting, the closing out of market contacts, the application or transfer of Collateral Security Arrangements;
(c) its default procedures; and
(d) any rules of the Recognised Clearing House which provide for the taking of action in accordance with a request or instruction from a Clearing Member under the default procedures referred to in paragraph (c) in respect of assets or positions held by the Recognised Clearing House for the account of an Indirect Client or group of Indirect Clients.
Default Fund Contribution means —
(a) contribution by a member or Designated Non-Member of a Recognised Investment Exchange to a fund which —
(i) is maintained by that Recognised Investment Exchange for the purpose of covering losses arising in connection with Defaults by any of the members of the Recognised Investment Exchange, or Defaults by any of the members or Designated Non-Members of the Recognised Investment Exchange; and
(ii) may be applied for that purpose under the Default Rules of the Recognised Investment Exchange;
(b) contribution by a member of a Recognised Clearing House to a fund which —
(i) is maintained by that Recognised Clearing House for the purpose of covering losses arising in connection with Defaults by any of the members of the Recognised Clearing House; and
(ii) may be applied for that purpose under the Default Rules of the Recognised Clearing House;
(c) contribution by a Recognised Clearing House to a fund which —
(i) is maintained by a Recognised Investment Exchange or another Recognised Clearing House ("A") for the purpose of covering losses arising in connection with Defaults by Recognised Clearing Houses or Recognised Investment Exchanges other than A or by any of their members; and
(ii) may be applied for that purpose under A's Default Rules; or
(d) contribution by a Recognised Investment Exchange to a fund which —
(i) is maintained by a Recognised Clearing House or another Recognised Investment Exchange ("A") for the purpose of covering losses arising in connection with Defaults by Recognised Investment Exchanges or Recognised Clearing Houses other than A or by any of their members; and
(ii) may be applied for that purpose under A's Default Rules.
Deposit has the meaning given to that term in paragraph 85 of Schedule 1.
Derivative or Derivative Contract 12 means Specified Investments falling within paragraphs 94 to 96 of Schedule 1 or, so far as relevant to such investments, any investment falling within paragraphs 98 or 99 of Schedule 1.
Designated Investment means a kind of investment specified for the purposes of sections 102 and 103 in Rules made by the Regulator.
Designated Non-Member means a person in respect of whom action may be taken under the Default Rules of the Recognised Investment Exchange who is not a member of the Recognised Investment Exchange.
Direction means, for the purposes of —
(a) sections 9 and 10, a direction under section 9;
(b) Reporting Entities and their obligations under Part 6, a direction under section 84;
(c) suspending an investigation into Market Abuse, a direction under section 99;
(d) the name of a Fund or Sub-Fund, a direction under section 117;
(e) the Regulator's powers under Part 12, a direction under sections 130, 132, 133 and 137;
(f) the Regulator's powers under Part 13, a direction under sections 153, 162 and 164;
(g) the Regulator's powers under Part 17, a direction under sections 206 and 217; and
(h) Authorised Person Operating a Crypto Asset Business, a direction under sub-section 5A(2).
Director includes, in relation to a Body Corporate —
(a) a person occupying in relation to it the position of a director (by whatever name called); and
(b) a person in accordance with whose directions or instructions (not being advice given in a professional capacity) the directors of that body are accustomed to act.
Disclosing Person means the person making a disclosure in accordance with section 101.
Discontinuance means a discontinuance of Listing in accordance with section 53.
Documents means any record of information recorded physically, electronically or in any other form and, in relation to information recorded otherwise than in legible form, references to its production include references to producing a copy of the information in legible form, or in a form from which it can readily be produced in visible and legible form.
Domestic Fund means a Fund established or domiciled in the Abu Dhabi Global Market.
EEA Competent Authority means, for the purposes of subsection 199(2), a public authority or body officially recognised by national law of a jurisdicti0n within the EEA and empowered by that national law to supervise institutions as part of the supervisory system.
Effecting Contracts of Insurance means the Regulated Activity specified in paragraph 31 of Schedule 1.
Eligible Custodian means, in relation to a Fund, a person who is a separate legal entity from the Fund Manager and who also meets one of the following criteria —
(a) an Authorised Person whose Financial Services Permission authorises it to Provide Custody;
(b) an Authorised Person that is a Bank;
(c) a Recognised Body;
(d) a legal entity that is authorised and supervised by a Non-Abu Dhabi Global Market Regulator in a Recognised Jurisdiction for Providing Custody in respect of a Fund and is subject to a minimum capital requirement of 4 million US Dollars or its equivalent in any other currency at the relevant time and has had surplus revenue over expenditure for the last two financial years;
(e) a legal entity where it, or its holding company is —
(i) in respect of its financial strength, rated or graded as at least "investment grade" by Moody's, Fitch or Standard & Poor's or such other international rating agency as may be recognised by the Regulator; and
(ii) authorised and supervised by a Non-Abu Dhabi Global Market Regulator in another jurisdiction which is a Zone 1 country; or
(f) a legal entity that is authorised or recognised by a Non-Abu Dhabi Global Market Regulator to operate as an exchange or a clearing house in a Recognised Jurisdiction;
(g) a legal entity that is and remains —
(i) controlled and wholly owned by one or more of the national governments of the six member states of the Gulf Cooperation Council;
(ii) authorised and supervised by a financial services regulator or central bank of at least one of the said national governments; and
(iii) rated or graded as at least "investment grade" by Moody's, Fitch or Standard & Poor's or such other international rating agency as may be recognised by the Regulator; or
(h) any other legal entity otherwise acceptable to the Regulator.
E-money means a digital representation of Fiat Currency used to electronically transfer value denominated in Fiat Currency.
Engage in Investment Activity means —
(a) enter or offer to enter into an agreement the making or performance of which by either party constitutes a Regulated Activity, or would constitute a Regulated Activity, but for the application of any exclusion pursuant to Schedule 1 or any exemption under section 16(3); or
(b) exercise any rights conferred by a Specified Investment to acquire, dispose of, underwrite or convert a Specified Investment.
European Economic Area or EEA means, for the purposes of subsection 199(2), the area as it stands from time to time in which the Agreement on the EEA, established on 1 January 1994, provides for the free movement of persons, goods, services and capital within the European single market.
Exempt Fund means the Fund of a description specified in Rules made by the Regulator.
Exempt Offeror means, for the purposes of Part 6, a recognised government or other person included in the list of Exempt Offerors maintained by the Regulator in accordance with the Rules and in accordance with section 60(2).
Exempt Person means a person set out in Schedule 3.
Fiat Currency means, for the purpose of paragraph 73B of Schedule 1, government issued currency that is designated as legal tender in its country of issuance through government decree, regulation or law.
Financial Crime includes —
(a) fraud or dishonesty;
(b) misconduct in, or misuse of information relating to, a financial market;
(c) handling the proceeds of crime; or
(d) the financing of terrorism.
Financial Counterparty means an Authorised Person.
Financial Instrument means the instruments listed in paragraphs 87, 88, 89, 90, 91, 92, 93, 94, 95 and 96 of Schedule 1 and, so far as relevant to any such instruments, those listed in paragraphs 98 and 99 of that Schedule.
Financial Promotion Restriction is a reference to the restriction in section 18(1).
Financial Services Permission is a permission given, or having effect as if so given, by the Regulator in accordance with Part 4.
Foreign Fund means a Fund established or domiciled in a jurisdiction other than the Abu Dhabi Global Market managed by a Fund Manager who is an Authorised Person.
Fund means a Collective Investment Fund.
Fund Manager means the person who is responsible for the management of the property held for or within a Fund and who otherwise operates the Fund and, in relation to a Domestic Fund, is authorised under a Financial Services Permission granted by the Regulator to operate the Fund.
Fund Property means the property held for or within a Fund.
General Partner means, in relation to a Fund, the general partner of a Partnership (including an Investment Partnership).
General Prohibition has the meaning given to that term in section 16(2).
Governing Body means, in relation to a Fund, a person or a body of persons who together form the directing mind of the Fund including but not limited to —
(a) its Fund Manager, a member of its main or supervisory board, a General Partner; or
(b) any other person or body of persons exercising equivalent powers and functions in relation to directing the operation of the Fund.
Government means, for the purposes of Schedule 1 —
(a) the Board or the government of the U.A.E., a member emirate of the U.A.E. or of any other country, territory or jurisdiction; or
(b) a governmental authority in the U.A.E. or elsewhere (including a local or regulatory authority).
Group has the meaning given to that term in section 260(1).
Group of Connected Individuals for the purposes of —
(a) Schedule 1, has the meaning given to that term in paragraph 78(3) of that Schedule; and
(b) Schedule 2, has the meaning given to that term in paragraph 32(4) of that Schedule.
Guidance means the guidance issued by the Regulator in accordance with section 15.
Indirect Clearing Services means the Clearing Services provided by a Recognised Clearing House to an Indirect Client.
Indirect Client means the Client of a Clearing Member.
Information Requirement means a requirement to produce Documents or provide information imposed pursuant to these Regulations.
Inside Information has the meaning given to that term in section 95.
Insider has the meaning given to that term in section 94.
Insolvency Practitioner means a person licensed to perform the activity specified in Rule 6 of the Commercial Licensing Regulations 2015 (Controlled Activities) Rules 2015.
Institution means, for the purposes of Part 14
(a) a Recognised Investment Exchange, other than a Non-Abu Dhabi Global Market Investment Exchange; or
(b) an Authorised Person.
Insurance Intermediation means the Regulated Activity specified in paragraph 33 of Schedule 1.
Insurance Management means the Regulated Activity specified in paragraph 36 of Schedule 1.
Insurer means a person or institution which is authorised under these Regulations to carry on the Regulated Activity of Effecting Contracts of Insurance or Carrying Out Contracts of Insurance as Principal.
Interested Parties are, in relation to an Application made under section 44
(a) the Applicant; and
(b) the person in respect of whom the Application is made.
International Organisation means any body the members of which comprise —
(a) states or legal jurisdictions including the Abu Dhabi Global Market and the U.A.E.; or
(b) bodies whose members comprise states or legal jurisdictions including the Abu Dhabi Global Market and the U.A.E.
Intragroup Transactions means transactions occurring between two members of the same Group.
Investigative Power means any one of the powers set out in section 217(1).
Investigator means a person Appointed under section 205 to conduct an investigation.
Investment Partnership means, in relation to a Fund, a limited partnership established for the sole purpose of collective investment which is formed and registered under the Limited Partnership Act 1907 (Chapter 24).
Investment Trust means an express trust created solely for collective investment purposes in accordance with section 114.
Islamic Financial Business means the Regulated Activity specified in paragraph 64 of Schedule 1.
Issuer
(a) for the purposes of Part 6
(i) in relation to an Offer of Securities to the Public or admission of Securities to the Official List, means a legal person who issues or proposes to issue the Securities in question; and
(ii) in relation to anything else which is or may be admitted to the Official List, has such meaning as may be prescribed in the Rules made by the Regulator;
(b) for the purposes of Part 14, and in relation to a Financial Instrument, means the person who issued such Financial Instrument; and
(c) in any other case, means a person issuing a Financial Instrument.
Joint Enterprise means an enterprise into which two or more persons (the "participators") enter for commercial purposes related to a business or businesses (other than the business of engaging in a Regulated Activity) carried on by them, and, where a participator is a member of a Group, each other member of the Group is also to be regarded as a participator in the enterprise.
Just Cause means inability, incapacity or misbehaviour.
Knowingly Concerned means, for the purposes of sections 220, 236, 239 and 241, a person who —
(a) has aided, abetted, counselled or procured the contravention;
(b) has induced, whether by threats or promises or otherwise, the contravention;
(c) has in any way, by act or omission, directly or indirectly been knowingly involved in or been party to, the contravention; or
(d) has conspired with another or others to effect the contravention.
Lender means —
(a) the person providing Credit under a Credit Agreement; or
(b) a person who exercises or has the right to exercise the rights and duties of a person who provided Credit under such an agreement.
Listed Fund means a Fund where the Units are or have been admitted to the Official List.
Listing means being admitted to the Official List in accordance with Part 6.
Listing Rules means the Rules made under Part 6 which relate to Listing.
Managing Assets means the Regulated Activity specified in paragraph 56 of Schedule 1.
Managing a Collective Investment Fund means the Regulated Activity specified in paragraph 59 of Schedule 1.
Managing a Profit Sharing Investment Account means the Regulated Activity specified in paragraph 64(2) of Schedule 1.
Market Abuse has the meaning given to that term in section 92(1).
Market Contracts means the contracts described in sections 151(1) to (5).
Market Operator means a person who manages or operates the business of a Recognised Investment Exchange.
Matter Concerned has the meaning given to that term in section 203(1).
Money-Lender means, for the purposes of paragraph 22 of Schedule 1, a person who is —
(a) a money-lending company within the meaning of section 198 (Exceptions for money-lending companies) of the Companies Regulations 2015; or
(b) a person whose ordinary business includes the making of loans or the giving of guarantees in connection with loans.
Money Transmission means —
(a) selling or issuing payment instruments;
(b) selling or issuing stored value; or
(c) receiving money or monetary value for transmission, including electronic transmission, to a location within or outside the Abu Dhabi Global Market.
Multilateral Trading Facility or MTF means a multilateral system, operated by an Authorised Person or a Market Operator, which brings together multiple third-party buying and selling interests in Financial Instruments, in the system and in accordance with non-discretionary rules, in a way that results in a contract in accordance with its rules.
Non-Abu Dhabi Global Market Applicant means, for the purposes of Part 12, a Body Corporate or association which has neither its head office nor its registered office in the Abu Dhabi Global Market and which has applied for a recognition order.
Non-Abu Dhabi Global Market Clearing House means, for the purposes of —
(a) Part 12, a Body Corporate or association in respect of which a recognition order is in force; and
(b) Part 13, a clearing house operating outside the Abu Dhabi Global Market which is not a Non-Abu Dhabi Global Market Recognised Body.
Non-Abu Dhabi Global Market Communicator means a person who carries on the business of engaging in Regulated Activities from outside the Abu Dhabi Global Market but who does not carry on any such activity from a permanent place of business maintained by him in the Abu Dhabi Global Market.
Non-Abu Dhabi Global Market Firm means a person —
(a) who is a body incorporated in, or formed under the law of, or is an individual who is ordinarily resident, in any country, territory or jurisdiction outside the Abu Dhabi Global Market; and
(b) who is carrying on a Regulated Activity in any country, territory or jurisdiction outside the Abu Dhabi Global Market in accordance with the law of that country, territory or jurisdiction.
Non-Abu Dhabi Global Market Investment Exchange means, for the purposes of —
(a) Part 12, a Body Corporate or association which has neither its head office nor its registered office in the Abu Dhabi Global Market and in relation to which a recognition order is in force; and
(b) Part 13, an investment exchange operating outside the Abu Dhabi Global Market which is not a Non-Abu Dhabi Global Market Recognised Body.
Non-Abu Dhabi Global Market Person means a person who —
(a) carries on activities of the kind specified by any of paragraphs 4, 12, 16, 28, 56, 43, 59, 60 or 61 of Schedule 1, or, so far as relevant to any of those paragraphs, paragraph 70 (or activities of a kind which would be so specified but for the exclusion in paragraph 79); but
(b) does not carry on any such activities, or offer to do so, from a permanent place of business maintained by him in the Abu Dhabi Global Market.
Non-Abu Dhabi Global Market Recognised Body means a Non-Abu Dhabi Global Market Clearing House or Non-Abu Dhabi Global Market Investment Exchange which has been recognised by the Regulator in accordance with section 165.
Non-Abu Dhabi Global Market Recognised Clearing House means, for the purposes of Part 13, a clearing house operating outside the Abu Dhabi Global Market which has been recognised by the Regulator in accordance with section 165.
Non-Abu Dhabi Global Market Recognised Investment Exchange means, for the purposes of Part 13, an investment exchange operating outside the Abu Dhabi Global Market which has been recognised by the Regulator in accordance with section 165.
Non-Abu Dhabi Global Market Regulator means an authority in a country, territory or jurisdiction outside the Abu Dhabi Global Market which exercises functions with respect to regulation of financial services in that country, territory or jurisdiction.
Non-Abu Dhabi Global Market State means any country, territory or jurisdiction outside the Abu Dhabi Global Market.
Non-Financial Counterparty means an undertaking established in the Abu Dhabi Global Market other than Recognised Clearing Houses or Financial Counterparties.
Non-Global Market Competent Authority means, for the purposes of section 165 a competent authority responsible for the recognition or supervision of Recognised Clearing Houses in a country or territory other than the Abu Dhabi Global Market.
Notice of Discontinuance means a notice given by the Regulator in accordance with section 250.
Offer means —
(a) for the purposes of Part 6 the offer made by the Offeror in accordance with section 59; and
(b) in relation to Units of a Fund, an offer of Units falling outside Part 6.
Offer of Securities to the Public has the meaning given to that term in section 59.
Offeror means the person making the Prospectus Offer in accordance with Part 6.
Officer means —
(a) for the purposes of section 201 an officer of the Regulator exercising the power and includes a member of that Regulator's staff or an agent of the Regulator;
(b) for the purposes of section 214, and in relation to a Body Corporate, an officer of the Body Corporate; and
(c) for the purposes of section 222, and in relation to a Body Corporate —
(i) a Director, member of the committee of management, Chief Executive, manager, secretary or other similar officer of the body, or a person purporting to act in any such capacity; and
(ii) an individual who is a Controller of the body.
Official List means the list of Securities maintained by the Regulator pursuant to Part 6.
Operating a Credit Rating Agency means the Regulated Activity specified in paragraph 65 of Schedule 1.
Operating a Crypto Asset Business means the Regulated Activity specified in paragraph 73B of Schedule 1.
Operating a Multilateral Trading Facility or Organised Trading Facility means the Regulated Activity specified in paragraph 54 of Schedule 1.
Operating a Representative Office means the Regulated Activity specified in paragraph 67 of Schedule 1.
Organised Trading Facility or OTF means a multilateral system which is not a Recognised Investment Exchange or a Multilateral Trading Facility and in which multiple third-party buying and selling interests in Financial Instruments are able to interact in the system in a way that results in a contract in accordance with the provisions of its rules.
Original Notice has the meaning given to that term in section 249(3).
OTC Derivative or OTC Derivative Contract means a Derivative Contract the execution of which does not take place on a Recognised Investment Exchange.
Ownership Transfer means, for the purposes of section 128(3), and in relation to an exchange, a transfer of ownership which gives rise to a change in the persons who are in a position to exercise significant influence over the management of the exchange, whether directly or indirectly.
Own-Initiative Powers means the Regulator's Own-Initiative Variation Power and its Own-Initiative Requirement Power.
Own-Initiative Requirement Power means the Regulator's power specified in section 35(3).
Own-Initiative Variation Power means the Regulator's power specified in section 33(2).
Parent Undertaking has the meaning given to that term in the Companies Regulations 2015 but, for the purposes of these Regulations, also includes an individual who would be a parent undertaking for the purposes of those provisions if he were taken to be an undertaking.
Participating Interest has the meaning given to that term in sections 260 and 261.
Partner includes, for the purposes of section 222(3), a person purporting to act as a partner.
Partnership includes —
(a) a partnership constituted under the law of the Abu Dhabi Global Market;
(b) a partnership constituted under the law of a country, territory or jurisdiction outside the Abu Dhabi Global market; but
(c) for the purposes of sections 30(5), (6) and (7), does not include a partnership which is constituted under the law of any place outside the Abu Dhabi Global Market and which has status of a Body Corporate under such law.
Person Concerned means —
(a) for the purposes of section 203, the person to whom section 203(2) applies;
(b) for the purposes of section 240, the person in respect of which the Court makes an order under section 240(4); and
(c) for the purposes of section 241, the Authorised Person or Recognised Investment Exchange in respect of which the Regulator exercises its powers under section 241(5).
Person's Firm in relation to a person Acting as an Insolvency Practitioner or in reasonable contemplation of that person's appointment as an Insolvency Practitioner, means —
(a) the person's employer;
(b) where the person is a partner in a Partnership other than a limited liability partnership, that Partnership; or
(c) where the person is a member of a limited liability partnership, that Partnership.
Person in Default has the meaning given to that term in section 163(1).
Person Under Investigation means the person subject to an investigation carried out in accordance with sections 205 and 206.
Precise has the meaning given to that term in section 95(5).
Prescribed Markets means Recognised Investment Exchanges, MTFs and OTFs or equivalent markets in the U.A.E.
President means the president of the Appeals Panel Appointed in accordance with section 227.
Price Stabilising Rules means the Rules made by the Regulator in accordance with section 7(4).
Private Person has, for the purposes of section 242, such meaning as may be prescribed in the Rules made by the Regulator.
Privileged Communication has the meaning given to that term in the Insolvency Regulations 2015.
Profit Sharing Investment Account means an account or portfolio managed —
(a) in relation to property of any kind, including the currency of any country or territory, held for or within the account or portfolio;
(b) in accordance with Shari'a and held out as such; and
(c) under the terms of an agreement whereby —
(i) the investor agrees to share any profit with the manager of the account or portfolio in accordance with a predetermined specified percentage or ratio; and
(ii) the investor agrees that he alone will bear any losses in the absence of negligence or breach of contract on the part of the manager.
Prohibition Order means an order made in accordance with section 234, prohibiting an individual to whom that section applies from performing any Controlled Function specified in the order.
Property has the meaning given to that term in section 152(2).
Prospectus means a prospectus submitted in accordance with section 61.
Prospectus Offer has the meaning given to that term in section 61(4)(a).
Protected Items has the meaning given to that term in section 211(2).
Provider means the Authorised Person making an Agreement in the course of carrying on a Regulated Activity in accordance with section 22(1)(a).
Providing Custody means the Regulated Activity specified in paragraph 43 of Schedule 1.
Providing Information in Relation to a Specified Benchmark means the Regulated Activity specified in paragraph 68(1)(a) of Schedule 1.
Providing Money Services means the Regulated Activity specified in paragraph 52 of Schedule 1
Providing Trust Services means the Regulated Activity specified in paragraph 72 of Schedule 1.
Public Functions includes for the purposes of section 199
(a) functions of a public nature conferred by or in accordance with any provision contained in any enactment; and
(b) similar functions conferred on persons by or under provisions having effect as part of the law of a country, territory or jurisdiction outside the Abu Dhabi Global Market.
Public Fund means the Fund of a description specified in Rules made by the Regulator.
Publication means —
(a) a newspaper, journal, magazine or other periodical publication;
(b) a web site or similar system for the electronic display of information; or
(c) any programme forming part of a service consisting of the broadcast or transmission of television or radio programmes.
Qualified Investor Fund means the Fund of a description specified in Rules made by the Regulator.
Qualifying Collateral Arrangements means the contracts and contractual obligations to which these Regulations apply by virtue of section 152(1).
Qualifying Person means —
(a) for the purposes of section 239, a person appearing to the Court to be someone —
(i) to whom the profits mentioned in section 239(1)(a) are attributable; or
(ii) who has suffered the loss or adverse effect mentioned in section 239(1)(b); and
(b) for the purposes of section 240, a person appearing to the Court to be someone —
(i) to whom the profits mentioned in section 240(2)(a) are attributable; or
(ii) who has suffered the loss or adverse effect mentioned in section 240(2)(b).
Qualifying Property Transfers means the property transfers to which these Regulations apply by virtue of section 152(1).
Rating Subject has the meaning given to that term in paragraph 65(3) of Schedule 1.
Real Property has the meaning given to that term in the Real Property Regulations 2015.
Recipient is, for the purposes of Schedule 2, the person to whom the communication is made or, in the case of a non-real time communication which is directed at persons generally, any person who reads or hears the communication.
Recognised Body means a Recognised Investment Exchange and a Recognised Clearing House.
Recognised Clearing House means a clearing house which provides clearing services in the Abu Dhabi Global Market in relation to which a recognition order is in force.
Recognised Function means in relation to the carrying on of Regulated Activity by an Authorised Person, a function of a description specified in the Rules made by the Regulator.
Recognised Investment Exchange means an investment exchange in relation to which a recognition order is in force.
Recognised Jurisdiction means a jurisdiction included in the list maintained by the Regulator pursuant to section 118.
Recognised Person means a person approved by an Authorised Person under section 43.
Recognition Requirements has the meaning given to that term in section 120.
Regulated Activity has the meaning given to that term in section 19.
Regulator means the Financial Services Regulator of the Abu Dhabi Global Market.
Regulatory Committee means the committee Appointed by the Board in accordance with section 224.
Regulatory Functions means the functions of the Recognised Body so far as relating to, or to matters arising out of, the obligations to which the body is subject by or under these Regulations.
Regulatory Provision has the meaning given to that term in section 138(1)(a).
Related Instrument means, for the purposes of Part 8 and in relation to a Financial Instrument, an instrument whose price or value depends on the price or value of the Financial Instrument.
Relevant Authorised Person means, for the purposes of paragraph 22 of Schedule 1, an Authorised Person who has permission to Effect Contracts of Insurance or to sell investments of the kind specified by paragraph 98 of Schedule 1, so far as relevant to such contracts.
Relevant Benchmark means, for the purposes of section 104, a benchmark of a kind specified in the Rules made by the Board.
Relevant Complaint means a complaint which the Regulator considers is relevant to the question of whether the body concerned should remain a Recognised Body.
Relevant Day means, for the purposes of section 134(3)(b), the day on which the power to make an order under that subsection is exercised.
Relevant Insolvency Event has the meaning given to that term in section 163(2).
Relevant Kind has the meaning given to that term in section 212(5)(b).
Relevant Office-Holder means any of —
(a) the official receiver; and
(b) any person acting in relation to a company as its liquidator, provisional liquidator, Administrator or Administrative Receiver, where "company" means any company, Partnership or other body which may be wound up pursuant to the Insolvency Regulations 2015.
Relevant Person means —
(a) for the purposes of section 209, and in relation to a person who is required to produce a Document —
(i) has been or is or is proposed to be a Director or Controller of that person;
(ii) has been or is an auditor of that person;
(iii) has been or is an actuary, accountant or lawyer appointed or instructed by that person; or
(iv) has been or is an employee of that person; and
(b) for the purposes of section 237, Authorised Persons and Recognised Bodies as defined in subsection (1)(a) of that section.
Relevant Provisions means, for the purposes of sections 165 and 166, any provisions of the Default Rules of a Non-Abu Dhabi Global Market Recognised Clearing House which —
(a) provide for the transfer of the positions or assets of a Defaulting Clearing Member;
(b) are not necessary for the purposes of complying with the minimum requirements of Part 10; and
(c) may be relevant to a question falling to be determined in accordance with the law of the Abu Dhabi Global Market.
Relevant Requirements means, for the purposes of sections 165 and 166, the requirements specified in Rules made by the Regulator.
Relevant Security means —
(a) an investment falling within paragraph 87, 88 or 89 of Schedule 1; or
(b) an investment falling within paragraph 91 or 92 of that Schedule so far as relating to any investments within paragraph (a).
Relevant Transaction means, for the purposes of paragraph 22 of Schedule 1, the effecting of a Contract of Insurance or the sale of an investment of the kind specified by paragraph 98 of Schedule 1, so far as relevant to such contracts.
Reporting Entity has the meaning given to that term in section 72.
Reporting Entity of the Listed Fund has the meaning given to that term in section 72(2)(a)(i).
Requirement means —
(a) for the purposes of sections 35 and 36, a requirement imposed under section 35; and
(b) for the purposes of section 137, any obligation or burden.
Responsible Recognised Body has the meaning given to that term in section 163(3).
Revocation Order means an order made under section 134.
Rules means Rules made by the Regulator or the Board (as applicable) under these Regulations.
Rule-Making Instrument means an instrument by which Rules are made by the Regulator.
Rules of Market Conduct means Rules made by the Regulator in accordance with section 96.
Scheme Report means a report made in accordance with section 89.
Secondary Material means material, other than material falling within section 255(1)(a) which —
(a) was considered by the Regulator in reaching the decision mentioned in that section; or
(b) was obtained by the Regulator in connection with the matter to which that notice relates but which was not considered by it in reaching that decision.
Section 105 Notice means a notice given under section 105(3)(a).
Section 180 Requirement has the meaning given to that term in section 181(1).
Security means —
(a) any investment of the kind specified by any of paragraphs 87 to 95 of Schedule 1;
(b) so far as relevant to any such investment, paragraph 98 of Schedule 1;
(c) any investment set out in paragraphs (a) and (b) which falls within the scope of paragraph 99 of Schedule 1; and
(d) any other Specified Investment declared to be a Security in Rules made by the Regulator.
Seized Document means any Document of which possession is taken under section 212.
Sell or Selling includes, in relation to any investment, disposing of the investment for valuable consideration, and for these purposes "disposing" includes —
(a) in the case of an investment consisting of rights under a contract —
(i) surrendering, assigning or converting those rights; or
(ii) assuming the corresponding liabilities under the contract;
(b) in the case of an investment consisting of rights under other arrangements, assuming the corresponding liabilities under the arrangements; and
(c) in the case of any other investment, issuing or creating the investment or granting the rights or interests of which it consists.
Settlement
(a) means, in relation to a Market Contract, the discharge of the rights and liabilities of the parties to the contract, whether by performance, compromise or otherwise; and
(b) includes, in relation to a Clearing Member Client Contract or a Clearing Member House Contract, a reference to its liquidation.
Shareholder means a natural person or legal entity governed by private or public law, who holds, directly or indirectly —
(a) Shares of the Issuer in its own name and on its own account;
(b) Shares of the Issuer in its own name, but on behalf of another natural person or legal entity; or
(c) depository receipts, in which case the holder of the depository receipt shall be considered as the shareholder of the underlying Shares represented by the depository receipts.
Shares means —
(a) in relation to an undertaking with a share capital, means allotted shares;
(b) in relation to an undertaking with capital but no share capital, means rights to share in the capital of the undertaking;
(c) in relation to an undertaking without capital, means interests —
(i) conferring any right to share in the profits, or liability to contribute to the losses, of the undertaking, or
(ii) giving rise to an obligation to contribute to the debts or expenses of the undertaking in the event of a winding up.
Shari'a Supervisory Board means the board comprising individuals appointed by an Authorised Person and entrusted with the duty of directing, reviewing and supervising the activities of the Authorised Person conducting Islamic Financial Business in order to ensure that the Authorised Person comply with Shari'a.
Solicited Real Time Communication has the meaning given to that term in paragraph 1(e) of Schedule 2.
Special Resolution means, in relation to a Domestic Fund, a resolution passed by a majority of not less than 75 per cent. of the votes validly cast (whether on a show of hands or on a poll) for and against the resolution at a general meeting or class of meeting of Unitholders, of which notice specifying the intention to propose the resolution as a special resolution has been duly given.
Specified means (except when used in the expressions "Specified Benchmark" and "Specified Investment"), for the purposes of —
(a) sections 4, 5, 6, 7, 129, 169, 189 and 200 specified in the Rules made by the Regulator;
(b) section 201, specified in the notice given under section 201(1);
(c) section 202, specified in the direction given under that section;
(d) section 206, specified in a notice in writing; and
(e) section 234, specified in the Prohibition Order.
Specified Benchmark has the meaning given to that term in paragraph 68(2)(c) of Schedule 1.
Specified Investment means an investment falling within paragraphs 85 to 99 of Schedule 1, without regard to any applicable exclusions or exemptions set out in that Schedule.
Sub-Fund means a separate pool of Fund Property within an Umbrella Fund.
Subsidiary Undertaking has the meaning given to that term in the Companies Regulations 2015.
Sukuk means the arrangements falling within paragraph 89(2) of Schedule 1.
Suspension means a suspension of Listing in accordance with section 53.
Takeover means takeover and merger transactions however effected, including arrangements which have similar commercial effect to takeovers, partial bids, bid by a parent Company for Shares in its subsidiary and (where appropriate) Share repurchases by general bid.
Third Party for the purposes of —
(a) sections 21 to 23, has the meaning given to that term in section 22(1)(b); and
(b) section 254, means the party referred to in subsections (1)(a) and (4)(a) of that section.
Threshold Condition Rules means the Rules made under section 7(2).
Threshold Conditions has the meaning given to that term in section 7(2).
Trade Repository means a legal person that centrally collects and maintains the records of Derivatives.
Trading includes, for the purposes of section 180, trading taking place other than on a Recognised Investment Exchange or Multilateral Trading Facility.
Transfer means —
(a) in relation to a Market Contract —
(i) an assignment;
(ii) a novation;
(iii) terminating or closing out the Market Contract and establishing an equivalent position between different parties; and
(iv) establishing an equivalent position between different parties where, as a result of or immediately prior to the Default, the Market Contract was terminated or closed out.
For the purposes of this definition —
(a) where a Market Contract is recorded in the accounts of a Recognised Clearing House as a position held for the account of an Indirect Client or group of Indirect Clients, the Clearing Member Client Contract is to be treated as having been transferred if the position is transferred to a different account at the Recognised Clearing House; and
(b) a reference to a transfer of a Qualifying Collateral Arrangement includes an assignment or a novation.
Transfer Scheme has the meaning given to that term in section 85(2).
Trust Administration Services means, the provision of administration services to a trust, including —
(a) the keeping of accounting records relating to an express trust and the preparation of trust accounts;
(b) the preparation of trust instruments or other documents relating to an express trust;
(c) the management and administration of trust assets subject to an express trust;
(d) dealing with trust assets subject to an express trust, including the investment, transfer and disposal of such assets;
(e) the distribution of trust assets subject to an express trust; and
(f) the payment of expenses or remuneration out of an express trust.
Trust Deed means the deed entered into by a Fund Manager and the Trustee to create an Investment Trust.
Trustee means, in relation to a Fund, the person who is appointed under a Trust Deed as the trustee of an Investment Trust to hold the Fund's Property on trust for the Unitholders and to oversee the operation of the Fund and, in relation to a Domestic Fund, is authorised under its Financial Services Permission to Act as the Trustee of an Investment Trust.
U.A.E. means the United Arab Emirates.
Umbrella Fund has the meaning given to that term in the Rules made by the Regulator.
Undertaking has, for the purposes of section 261, the same meaning given to that term as in the Companies Regulations 2015.
Unitholders has the meaning given to that term in section 106(2).
Units means the rights or interests (however described) of the Unitholders in a Collective Investment Fund.
Unlawful Communication means, for the purposes of section 25, a communication in relation to which there has been a contravention of section 18.
Unsolicited Real Time Communication has the meaning given to that term in paragraph 1(f) of Schedule 2.
Voting Shares in relation to a Body Corporate and for the purposes of paragraph 78 of Schedule 1 and paragraph 32 of Schedule 2, means Shares carrying voting rights attributable to share capital which are exercisable in all circumstances at any general meeting of that Body Corporate.
Winding-Up means a voluntary winding-up or winding up by the Court performed in accordance with Part 3 of the Insolvency Regulations 2015.
Zone 1 means any of Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, United Kingdom and the United States of America.
(2) For the purposes of any provision of these Regulations (other than a provision of Part 6) authorising or requiring a person to do anything within a specified number of days no account is to be taken of any day which is a public holiday in any part of the Abu Dhabi Global Market.
Amended on July 4, 2018