[ L ] [ L ] [Large Exposure—Long-Term Insurance Liabilities]
Exposure, whether in an Authorised Firm's Non-Trading Bookor Trading Book, or both, to a Counterpartyor Groupof Closely Related Counterpartiesor a Groupof CounterpartiesConnected to the Authorised Firmwhich in aggregate is equal to or exceeds 10% of the Authorised Firm'sTier 1 Capital.Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] DFSA RM295/2021 (Made 24th February 2021). [VER50/04-21]
Licencegranted by the DFSAunder Chapter 2 of Part 3 of the Regulatory Law2004.
an endorsement made by the
DFSAon a Licencethat permits an Authorised Personto carry on an activity prescribed under Article 44 of the Regulatory Law 2004.[Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]
Licensed Functiondescribed in GEN Rule 7.4.3.
Licensed Function(1) in relation to an
Authorised Firm, a function described in GEN section 7.4; and(2) in relation to an Authorised Market Institution, a function described in AMI section 5.3.
Licensed Functiondescribed in GEN Rule 7.4.4.
In relation to a
Passported Fund, a Personwho is licensed or otherwise authorised by the Home Regulatorto Promote Funds.Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]
Licensed Representative [Deleted]Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
The requirements set out in AMI section 7.2 in relation to the granting of a
Licenceto an Authorised Market Institution.[Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
Limited Liability Partnership
A partnership incorporated under the Limited Liability Partnership Law 2004 or under the law of a country or territory outside the
The risk of loss to an
Authorised Firmas a result of inability to meet its obligations as they fall due.
Official List of Securities.
Has the meaning given in MKT Rule 9.1.1(2)
Collective Investment Fundwhich has been admitted to the Official List of Securities.[Added][VER4/08-05]
[Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]
Securitieswhich have been admitted to the Official List of Securities.
Rulesin MKT section 9.2.
Rulesin chapter 9 of MKT.
The society established in the United Kingdom and known as Lloyd's.
An underwriting member of Lloyds.
Has the meaning given in GEN Rules 2.29.1(2) and (3).
Loan Crowdfunding Operator
Personwho is authorised under a Licenceto Operate a Loan Crowdfunding Platform.
Loan Crowdfunding Platform
An electronic platform or a facility referred to in GEN Rule 2.29.1(2) or (3).
Government or municipal authorities, which do not operate at a national level.
Local Services Office [Deleted]Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
Contract of Insuranceof a type specified in GEN Rule A4.1.2, expressed to be in force for more than one year, where under the terms of the contract any of the following conditions exists:(1) the payment of the whole or part of the benefits is dependent upon the termination or continuation or human life;(2) the payment of any part of the premiums is dependent upon the termination or continuation of human life;(3) the benefits under the contract include payment of a sum on marriage or on the birth of a child; or(4) the contract is a permanent health insurance contract.
Long-Term Insurance Business
The business of
Effecting Contracts of Insuranceor Carrying Out Contracts of Insurance, where the Contracts of Insuranceare contracts of Long-Term Insurance.
Long-Term Insurance Fund
A fund in respect of
Long-Term Insurance Businessestablished and maintained in accordance with PIN chapter 3.