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13. Exempt Offerors

(1) The prohibition in Article 11(1) does not apply to any:
(a) Securities of an Exempt Offeror; or
(b) Securities which are unconditionally and irrevocably guaranteed by an Exempt Offeror.
(2) For the purposes of Article 13(1), an Exempt Offeror is a recognised government or other person included in the list of Exempt Offerors maintained by the DFSA in the Rules.
(3) The DFSA may, at its discretion and on its own initiative, include any person in the list of Exempt Offerors maintained by it in circumstances where the requirements prescribed by the DFSA in the Rules are met.