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  • Regulatory Law Amendment Law (Investment Trust) DIFC Law No. 7 of 2006

    • The Enactment Notice

      In respect of the Regulatory Law Amendment Law
      (Investment Trust) DIFC Law No. 7 of 2006

      We, Mohammed bin Rashid Al Maktoum, Ruler of Dubai hereby enact
      on this 1st day of August 2006:

      Regulatory Law Amendment Law
      (Investment Trust) DIFC Law No. 7 of 2006

      in the form now attached.

      This Law shall come into force on the 1st day of August 2006.

      Mohammed bin Rashid Al Maktoum

      Ruler of Dubai

    • Part 1 Part 1 General

      • 1. Title

        This Law may be cited as the "Regulatory Law Amendment Law (Investment Trust) 2006".

      • 2. Legislative Authority

        This Law is made by the Ruler of Dubai.

      • 3. Date of enactment

        This Law is enacted on the date specified in the Enactment Notice in respect of this Law.

      • 4. Commencement

        This Law comes into force on the date specified in the Enactment Notice in respect of this Law.

    • Part 2 Part 2 Amendments

      • 5.

        The Regulatory Law 2004 shall be amended as prescribed in this Law.

      • 6.

        Article 108 (2), is replaced as follows: "(2) An application in relation to a Fund may be made to the Court for an order sanctioning a transfer scheme. An application may be made by:

        (a) the Fund concerned;
        (b) the Operator, Trustee or auditor of the Fund concerned; or
        (c) the transferee."

      • 7.

        In Defined Terms of the Schedule, insert the following definition:

        Trustee has the meaning given in Article 2 of Schedule 1 to the Investment Trust Law 2006

      • 8.

        In Defined Terms of the Schedule, the definition of "Collective Investment Prohibitions" is replaced as follows:

        Collective Investment Prohibitions the general and marketing prohibitions prescribed under Articles 17 and 18 of the Collective Investment Law 2006.