GEN 2.12.2 Guidance

Past version: effective from 01/07/2008 - 10/07/2010
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1.  GEN Rule 2.12.1(2) alleviates any requirement upon an Operator to obtain further authorisations for certain Financial Services where the activities fall within the ordinary scope of the activity of Operating a Collective Investment Fund. The provision also facilitates the delegation of these discrete activities under CIR section 7.3.
2.  In relation to GEN Rule 2.12.2, note that Article 17(3) of the Collective Investment Law prescribes circumstances where a Person is not to be regarded as operating a Fund.
[Added] DFSA RM56/2008 (Made 1st July 2008). [VER19/07-08]