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GEN 11.8.7

Past version: effective from 28/04/2011 - 22/12/2012
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(1) Where the Authorised Firm does not fall within Rule 11.8.5(1)(a), (b) or (c) and a Person becomes a Controller, or the level of control changes as set out in Rule 11.8.3(1), as a result of the events described in (2) below, the Authorised Firm or the Person specified in Rule 11.8.1(b) must submit a notification to the DFSA.
(2) The events mentioned in (1) which trigger a notification are as follows:
(a) when a holding is increased from below 10% to 10% or more;
(b) when a holding is increased from below 30% to 30% or more;
(c) when a holding is increased from below 50% to 50% or more;
(d) when a holding is decreased from more than 50% to 50% or less; or
(e) when any significant management influence as identified under Rule 11.8.3(1)(c) or (d) occurs which has not previously been disclosed to the DFSA.
(3) A notification must be submitted to the DFSA using the appropriate form in AFN.