Entire Section

  • Chapter 1 – General

    • 84A. Application

      (1) This Part applies in relation to:
      (a) an Authorised Firm of a class prescribed by the DFSA; and
      (b) where specified, an entity in a Group to which an Authorised Firm referred to in (a) belongs.
      (2) An Authorised Firm does not cease to be an Authorised Firm or an Authorised Firm of a particular class for the purposes of this Part merely because it ceases to:
      (a) hold a licence to carry on a Financial Service; or
      (b) carry on a Financial Service,
      as a result of a resolution action.

    • 84B. Other Powers not Limited

      Nothing in this Part limits the scope or application of any other provision in this Law or any other legislation administered by the DFSA.

    • 84C. Rules for the Purposes of this Part

      The DFSA may make Rules for the purposes of this Part, including Rules relating to:

      (a) the class of Authorised Firms to whom this Part applies;
      (b) Recovery or Resolution Plans;
      (c) Resolvability Assessments;
      (d) the holding and maintenance of Loss Absorbing Capacity;
      (e) the Resolution Powers and Resolution Tools;
      (f) the appointment of independent valuers and the valuations required under this Part;
      (g) the recognition of resolution action taken in other jurisdictions;
      (h) the effect of action taken under this Part on provisions in agreements or contracts;
      (i) the notification of events relevant to the DFSA’s exercise of its powers under this Part;
      (j) the conditions and procedures relating to the DFSA exercising any powers under this Part; and
      (k) any other matter necessary or incidental to give effect to this Part.