30. Oversight arrangements

Past version: effective from 18/04/2006 - 31/07/2006
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(1) An Operator of a Domestic Fund which is, or is to be, a Public Fund shall establish and maintain oversight arrangements in accordance with the provisions of this part.
(2) A Domestic Fund which is an Islamic Fund or holds itself out as being an Islamic Fund or otherwise Shari'a compliant shall appoint a Shari'a Supervisory Board.
(3) The DFSA may make Rules prescribing circumstances in which a Fund will be taken to, or will be taken not to, be holding itself out as being Shari'a compliant or an Islamic Fund.
(4) The DFSA may make Rules prescribing the appointment, formation, conduct and operation of a Shari'a Supervisory Board.