1. Application of Common Law and Equity

(1) The common law of England (including the principles and rules of equity), as it stands from time to time, shall apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market—
(a) so far as it is applicable to the circumstances of the Abu Dhabi Global Market;
(b) subject to such modifications as those circumstances require;
(c) subject to any amendment thereof (whenever made) pursuant to any Abu Dhabi Global Market enactment; and
(d) notwithstanding any amendment thereof as part of the law of England made pursuant to an Act or any legislative instrument adopted thereunder at any time after the date of enactment of these Regulations, which amendment shall not apply and have legal force in, or form part of the law of, the Abu Dhabi Global Market, unless and until an Abu Dhabi Global Market enactment expressly provides that it applies and has legal force in, and forms part of the law of, the Abu Dhabi Global Market.
(2) Subsection (1) is subject to any contrary provision in any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment. In the event of any conflict or inconsistency between (a) a provision, rule or principle of the common law of England (including the principles and rules of equity) and (b) any provision, rule or principle of any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment, the latter shall prevail.
(3) Where a particular rule or principle of the common law of England (including the principles and rules of equity) has been abolished by a provision of an Act or any legislative instrument adopted thereunder, which provision does not apply in, have legal force in, and form part of the law of, the Abu Dhabi Global Market pursuant to the Schedule, that rule or principle shall, notwithstanding such abolition but subject to subsection (1), apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market.
(4) Where a particular rule or principle of the common law of England (including the principles and rules of equity) has been modified by a provision of an Act or any legislative instrument adopted thereunder, which provision does not apply in, have legal force in, and form part of the law of, the Abu Dhabi Global Market pursuant to the Schedule, that rule or principle shall, notwithstanding such modification but subject to subsection (1), apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market without giving effect to any such modification.