Entire Section

  • MKT 2.7 MKT 2.7 Offer Documents from Other Jurisdictions

    • MKT 2.7.1 MKT 2.7.1

      (1) The DFSA may, subject to (2), approve an offer document produced under legislation in a jurisdiction other than the DIFC for the purposes of meeting the Prospectus requirements in this chapter where:
      (a) it is satisfied that:
      (i) the Prospectus contains information equivalent to that which is required for a Prospectus in this chapter; and
      (ii) the offeror meets all the other requirements relating to a Prospectus Offer as 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 DFSA may, 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 DFSA as it sees fit.
      (3) An application for approval of an offer document produced in accordance with the legislation in a jurisdiction other than the DIFC must:
      (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 Prospectus for the purposes of Article 14(1) of the Law where it has been approved by the DFSA in accordance with the requirements in this Rule and section 2.6.
      (5) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the DFSA under this Rule not to approve an offer document or to impose conditions or restrictions on an approval.
      (6) If the DFSA decides 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 FMT for review.
      Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
      [Amended] DFSA RM134/2014 (Made 21st August 2014). [VER5/06-14]

      • MKT 2.7.1 Guidance

        A Person considering filing an offer document pursuant to Rule 2.7.1 should approach the DFSA at the earliest possible time to discuss how to proceed. This is because the DFSA will 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 Prospectus approval process.

        Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]