FPR 8.1 FPR 8.1 De-registration by the DFSA
This section applies if the
DFSAis the Home Regulatorof a Passported Fund
DFSAmay de-register a Passported Fund:(a) on its own initiative if either the Passported Fundor the Fund Manageris not complying, or is likely not to comply, with any applicable legislation, including these Rules, or in accordance with FPR Rules 3.1.10 or 3.2.10;(b) at the written request of the Fund Manager;(c) upon the commencement of the winding-up of the Passported Fund; or(d) in respect of a specific Host Jurisdiction, at the request of the Host Regulator.
DFSAwill promptly update its Register of Passported Fundsto reflect any de-registration.
Any removal of a
Passported Fundfrom the DFSA's Register of Passported Fundsby the DFSAwill be promptly notified to the Fund Managerand each relevant Host Regulator.
Fund Manager, its Agentsand any other Licensed Personmust immediately cease all Promotionof the relevant Passported Fundin a Host Jurisdictionin accordance with these Rulesupon the earlier of its removal from the Host Jurisdiction's Register of Passported Fundsor the Register of Passported Fundsmaintained by the DFSA.
FPR 8.1.6(1) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the
DFSAto de-register a Passported Fundunder this section.(2) If the DFSAdecides to de-register a Passported Fund, the Fund Managerof that Passported Fundmay refer the matter to the Financial Markets Tribunalfor review.