47. Exclusions

(1) A person ("the introducer") does not Arrange Custody by introducing a person to another person ("the custodian") who is authorised by the Regulator or a Non-Abu Dhabi Global Market Regulator to carry on the activity described in paragraph 43, if the introducer is not connected with the custodian.
(2) For the purposes of sub-paragraph (1) an introducer is connected to a custodian if —
(a) the custodian is a member of the same Group as the introducer; or
(b) the introducer is remunerated by the custodian or a member of the custodian's Group for making the introduction.