Entire Section

  • Exclusions

    • GEN A1.1.2

      A sum is not a Deposit if it is paid:

      (a) by a Person in the course of carrying on a business consisting wholly or to a significant extent of lending money;
      (b) by one company to another at a time when both are members of the same Group;
      (c) by an Authorised Firm authorised under its Licence to carry on the following Financial Services:
      (i) Accepting Deposits;
      (ii) Effecting Contracts of Insurance; or
      (iii) Carrying Out Contracts of Insurance; or
      (d) by a Person who is a close relative of the Person receiving it or who is a director, manager or Controller of that Person.

      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

    • GEN A1.1.3

      A sum is not a Deposit if it is received:

      (a) by a lawyer acting in his professional capacity;
      (b) by an accountant acting in his professional capacity;
      (c) by an Authorised Firm or an Authorised Market Institution authorised under its Licence to carry on any one or more of the following Financial Services:
      (i) Dealing in Investments as Principal;
      (ii) Dealing in Investments as Agent;
      (iii) Arranging Deals in Investments;
      (iv) Managing Assets;
      (v) Operating a Collective Investment Fund;
      (vi) Effecting Contracts of Insurance;
      (vii) Carrying Out Contracts of Insurance;
      (viii) Operating an Exchange;
      (ix) Operating a Clearing House;
      (x) Insurance Intermediation;
      (xi) Insurance Management;
      (xii) Managing a Profit Sharing Investment Account;
      (xiii) Providing Trust Services;
      (xiv) Arranging Credit and Advising on Credit; or
      (xv) Operating a Crowdfunding Platform,
      in the course of or for the purpose of any such Financial Service disregarding any applicable exclusions in chapter 2; or
      (d) by a Person as consideration for the issue by him of a Debenture.

      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended][VER7/01-06]
      [Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]
      [Amended] DFSA RMI201/2017 (Made 14th June 2017). [VER40/08-17]