Entire Section

  • GEN 2.2.10H GEN 2.2.10H

    (1) An Authorised Firm must not Operate or Act as the Administrator of an Employee Money Purchase Scheme to which this Rule applies, unless the Scheme is established in the DIFC.
    (2) This Rule applies to an Employee Money Purchase Scheme if the Scheme receives contributions that are required to be made by an employer under:
    (a) the Employment Law; or
    (b) another Dubai law.
    Derived from DFSA RMI301/2021 (Made 30th June 2021). [VER52/09-21]

    • GEN 2.2.10H Guidance

      An Authorised Firm can act as the Operator or Administrator of two types of Employee Money Purchase Schemes: a scheme established in the DIFC (a “DIFC Scheme”) or a scheme established outside the DIFC (a “Non-DIFC Scheme”). However, under GEN Rule 2.2.10H, an Authorised Firm is prohibited from Operating or Acting as the Administrator of a Non-DIFC Scheme where that Scheme receives employer contributions required to be made under the Employment Law or another Dubai law. The prohibition does not apply to the operation or administration of Non-DIFC Schemes that fall within the exclusion in GEN Rule 2.3.7.

      Derived from DFSA RMI301/2021 (Made 30th June 2021). [VER52/09-21]