39A. Performance of Functions Delegated by Other Regulators

(1) This Article applies if:
(a) a person referred to in Article 39 (a) to (g) (“the regulator”) delegates a regulatory function to the DFSA (“the delegated function”); and
(b) the DFSA enters into a binding or non-binding written arrangement, including a memorandum of understanding, with the regulator under which the DFSA agrees to perform the delegated function.
(2) The DFSA may perform the delegated function and, without prejudice to the DFSA’s ability to exercise any powers delegated by the regulator, the DFSA may exercise its powers under the Law or under any other legislation administered by the DFSA for the purposes of performing the delegated function.