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7. General conditions of licence for branches

(1) A licence holder must, in any written communication originating in or from the Abu Dhabi Global Market or related to any activity of the body corporate carried on in or from the Abu Dhabi Global Market, state after its full legal name either the words "(ADGM branch of non-ADGM body corporate)" or the words "(ADGM branch)".
(2) A licence holder must—
(a) ensure that any obligation imposed from time to time upon him or his connected persons by or under any enactment (including the Regulations and these Rules), any other law applicable in the Abu Dhabi Global Market are complied with; and
(b) at all times put in place suitable arrangements to ensure that he will comply with the obligations referred to in paragraph (2)(a).
(3) A Branch shall keep adequate accounting records with respect to all sums of money received and expended by the Branch and all sales and purchases of goods and services and other transactions by the Branch and the assets and liabilities of the Branch. Such Records shall be sufficient to show and explain all transactions by the Branch and must be such as to—
(a) disclose with reasonable accuracy the financial position of the Branch at any time; and;
(b) enable the directors to ensure that any accounts prepared by the Branch comply with the requirements of these Rules.
(4) The Branch’s accounting Records shall be—
(a) kept at the Branch’s registered office;
(b) preserved by the Branch for at least ten years from the date on which they are made; and
(c) at all reasonable times open to inspection by the directors of the relevant nonADGM body corporate.
(5) Not later than 14 days after the Registrar sends a written request to the Branch’s registered office, the Branch must deliver to the Registrar a copy of all requested accounting records.
(6) A licence holder must within 14 days notify the Registrar of any decision to cease to carry on any controlled activity to which its licence relates from any address stated on its licence, by filing a branch deregistration application containing the prescribed information.
(7) A licence holder must within one month of the change deliver to the Registrar a return containing details of any alteration to the information delivered under Rule 2(d) to (f) and Rule 3(1).