Entire Section

  • Part 6: Part 6: Contraventions and Fines

    • 85. General Contravention Provision

      (1) A person who:
      (a) does an act or thing that the person is prohibited from doing by or under the Law, Rules or other legislation administered by the DFSA;
      (b) does not do an act or thing that the person is required or directed to do by or under the Law, Rules or other legislation administered by the DFSA; or
      (c) otherwise contravenes a provision of the Law, Rules or other legislation administered by the DFSA;
      commits a contravention of the Law, Rules or other legislation, as the case may be, by virtue of Article 85 unless another provision of the Law, Rules or other legislation administered by the DFSA provides that the person commits, or does not commit, a contravention.
      (2) In Article 85, 'person' does not include the DFSA or the President.

    • 86. Involvement in contraventions

      (1) If a person is knowingly concerned in a contravention of the Law or Rules or other legislation administered by the DFSA committed by another person, the aforementioned person as well as the other person commits a contravention and is liable to be proceeded against and dealt with accordingly.
      (2) If an officer of a body corporate is knowingly concerned in a contravention of the Law or Rules or other legislation administered by the DFSA committed by a body corporate, the officer as well as the body corporate commits a contravention and is liable to be proceeded against and dealt with accordingly.
      (3) If the affairs of a body corporate are managed by its members, Article 86(2) applies in relation to the acts and defaults of a member in connection with his functions of management as if he were a director of the body corporate.
      (4) If a partner (or a person purporting to act as a partner) is knowingly concerned in a contravention of the Law or Rules or other legislation administered by the DFSA committed by a partnership or by all or some of its constituent partners, he as well as the partnership or its constituent partners as the case may be commits a contravention and is liable to be proceeded against and dealt with accordingly.
      (5) If an officer of an unincorporated association (other than a partnership) or a member of its governing body is knowingly concerned in a contravention of the Law or Rules or other legislation administered by the DFSA committed by the association, that officer or member as well as the association commits a contravention and is liable to be proceeded against and dealt with accordingly.
      (6) For the purposes of Article 86, "officer" means a director, member of a committee of management, chief executive, manager, secretary or other similar officer of the body corporate or association, or a person purporting to act in such capacity, and an individual who is a controller of the body.
      (7) For the purposes of Article 86, a person is 'knowingly concerned' in a contravention if, and only if, the person
      (a) has aided, abetted, counselled or procured the contravention;
      (b) has induced, whether by threats or promises or otherwise, the contravention;
      (c) has in any way, by act or omission, directly or indirectly, been knowingly involved in or been party to, the contravention; or
      (d) has conspired with another or others to effect the contravention.
      (8) In Article 86, 'person' does not include the DFSA or President.

    • 87. [Deleted]