A sum is not a
Depositif it is paid:(a) by a Personin 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 Firmauthorised under its Licenceto 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 Personwho is a close relative of the Personreceiving it or who is a director, manager or Controllerof that Person.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
A sum is not a
Depositif 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 Firmor an Authorised Market Institutionauthorised under its Licenceto 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 Servicedisregarding any applicable exclusions in chapter 2; or(d) by a Personas consideration for the issue by him of a Debenture.