Versions

 

6.

Article 8 is replaced as follows:

"General Power to make Rules

(1) The DFSA Board of Directors may, and where required under this Law shall, make Rules for the purposes of this Law pursuant to the power conferred under Article 23 of the Regulatory Law 2004.
(2) Without limiting the generality of Article 23 of the Regulatory Law 2004, the DFSA Board of Directors shall make Rules governing the establishment, management, operations and activities of a Fund, including Rules:
(a) governing the rights and obligations, including voting rights, of Unitholders;
(b) governing the powers and duties of a Trustee and the investment and borrowing powers of an Operator including leveraging or gearing and the issue, pricing and redemption of Units;
(c) governing the appointment, removal, powers and duties of an auditor or eligible custodian of a Fund; and
(d) governing the preparation, publication and audit of the accounts of a Fund and the preparation and contents of periodic reports.
(3) Where any legislation made under this Law purports to be made in the exercise of a particular power or powers, it shall be taken also to be made in the exercise of all powers under which it may be made.