MKT 2.7 MKT 2.7 Offer Documents from Other Jurisdictions
MKT 2.7.1 MKT 2.7.1(1) The
DFSAmay, subject to (2), approve an offer document produced under legislation in a jurisdiction other than the DIFCfor the purposes of meeting the Prospectusrequirements in this chapter where:(a) it is satisfied that:(i) the Prospectuscontains information equivalent to that which is required for a Prospectusin this chapter; and(ii) the offeror meets all the other requirements relating to a Prospectus Offeras prescribed in the Rules; or(b) the other jurisdiction provides a level of regulation relating to the offer which is acceptable to the DFSA.(2) The DFSAmay, subject to (3), approve an offer document referred to in (1) in accordance with the requirements and procedures set out in section 2.6 and, subject to such conditions or restrictions imposed by the DFSAas it sees fit.(3) An application for approval of an offer document produced in accordance with the legislation in a jurisdiction other than the DIFCmust:(a) be made using the appropriate form in AFN;(b) be accompanied by the relevant fee prescribed in FER; and(c) include:(i) where the offer document referred to in (1) is not in the English language, an English translation acceptable to the DFSA; and(ii) a clear statement that it is an offer document prepared in accordance with the requirements applicable in the relevant jurisdiction and not in the DIFC.(4) An offer document referred to in (1) is an Approved Prospectusfor the purposes of Article 14(1) of the Law where it has been approved by the DFSAin accordance with the requirements in this Ruleand section 2.6.(5) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the DFSAunder this Rule not to approve an offer document or to impose conditions or restrictions on an approval.(6) If the DFSAdecides to exercise its power under this Rule not to approve an offer document or to impose conditions or restrictions on an approval, the applicant may refer the matter to the FMTfor review.
MKT 2.7.1 Guidance
Personconsidering filing an offer document pursuant to Rule 2.7.1 should approach the DFSAat the earliest possible time to discuss how to proceed. This is because the DFSAwill undertake the assessment required under Rule 2.7.1 on a case-by-case basis. See Guidance item 1 under Rule 2.6.2 for details relating to the DFSA Prospectusapproval process.Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]