AMI 12.2.1

Past version: effective from 14/07/2013 - 20/08/2014
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(1) An Authorised Market Institution Licensed under the Previous Regime to carry on one or both the Financial Services of Operating an Exchange and Operating a Clearing House may, subject to (2) and (3), continue to carry on those Licensed activities subject to the Previous Regime for a period of not more than 6 months after the Commencement Date without breaching any of the requirements of the Current Regime.
(2) An Authorised Market Institution referred to in (1) may, at any time during the 6 month period referred to in (1), move to the current Regime.
(3) An Authorised Market Institution referred to in (1) is not required to obtain the DFSA's approval in accordance with Rule 5.3.2(1)(b) for any individual who performs a Key Individual function where that individual performed the duties of the relevant Key Individual function immediately prior to the Commencement Date.
(4) An individual referred to in (3) is deemed to be a Key Individual for the purposes of the Current Regime subject to continuing to meet the fitness and propriety criteria to perform the functions of the relevant role.
Derived from RM118/2013 [VER15/07-13]