85. Transfer Schemes

(1) No Transfer Scheme is to have effect unless an order has been made in relation to it under section 86. Nothing in this section prevents any person from exercising any other right or power he may have to transfer or receive the transfer of any asset or assume any liability.
(2) For the purposes of these Regulations, a Transfer Scheme means a scheme which results in the transfer of —
(a) the whole or part of a business carried on by an Authorised Person or Recognised Body which is incorporated in, or formed under the law of the Abu Dhabi Global Market, ("the person concerned") to another body ("the transferee");
(b) the whole or part of a business carried on in the Abu Dhabi Global Market by an Authorised Person or Recognised Body not incorporated in, or formed under the law of the Abu Dhabi Global Market ("the person concerned") to another body ("the transferee"); or
(c) the Fund Property of a Fund or of a Sub-Fund of an Umbrella Fund ("the Fund concerned") to another Fund ("the transferee").