16. The General Prohibition
(1) No person may carry on a Regulated Activity by way of business in the Abu Dhabi Global Market, or purport to do so, unless he is —
(a) an Authorised Person; or
(b) an Exempt Person.
(2) The prohibition is referred to in these Regulations as the General Prohibition.
(3) The persons set out in Schedule 3 are exempt from the General Prohibition.