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263. Insolvency of clearing and settlement intermediaries or authorised market institutions; client assets

(1) Any provision of the rules of a market institution authorised by Financial Market Regulations relating to the finality of acquisitions or dispositions effected pursuant to such rules shall —
(a) to the extent of any inconsistency with any other applicable law, regulation, order or rule, prevail in respect of determining claims to assets held by, on behalf of, or subject to the control of, such market institution; and
(b) have effect and prevail over these Regulations and any other insolvency legislation of the Abu Dhabi Global Market notwithstanding the commencement of an Insolvency Proceeding in respect of such market institution or any party to a contract for the acquisition or disposal of an asset to which such rules apply.
(2) The rules relating to client assets and client monies applicable to persons authorised pursuant to the Financial Market Regulations shall not be regarded as invalid on the ground of inconsistency with these Regulations or any other insolvency legislation of the Abu Dhabi Global Market relating to the distribution of property of a Company on an administration, Deed of Company Arrangement or a winding-up and those rules shall, to the extent of any inconsistency, prevail.