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MKT 6.2.14 Terms of Appointment for a Stabilisation Manager and Stabilisation Agents

(1) The terms of appointment of a Stabilisation Manager must include at least the following information:
(a) the period of the Stabilisation Window;
(b) the Offer Price;
(c) whether the Stabilisation Manager has discretion to commence Price Stabilisation at the Offer Price;
(d) whether the Stabilisation Manager is permitted to appoint Stabilisation Agents;
(e) a term whereby the Stabilisation Manager agrees unconditionally to submit to the jurisdiction of the FSRA and the ADGM Courts in relation to the activities of the Stabilisation Manager and his Stabilisation Agents in carrying out Price Stabilisation; and
(f) any other information that the Stabilisation Manager believes it will reasonably need to conduct Price Stabilisation effectively.

(2) The Stabilisation Manager may appoint in writing one or more Stabilisation Agents to assist him in conducting Price Stabilisation.

(3) The terms of appointment of a Stabilisation Agent must not create a legal relationship other than that of principal and agent whereby the Stabilisation Manager as principal is responsible and liable for any acts carried out by his Stabilisation Agent.

(4) The Stabilisation Manager must establish a Price Stabilisation register and take reasonable steps to satisfy himself that the mechanisms required to update the register are in place.