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71E. Refusal of an Application

(1) The DFSA may refuse to grant an application for DNFBP registration if it is not satisfied that the applicant meets the criteria for registration under Article 71B.

(2) The procedures in Schedule 3 apply to a decision of the DFSA under (1).

(3) If the DFSA decides to exercise its power under (1), the applicant may refer the matter to the FMT for review.

(4) The DFSA must as soon as practicable notify the DIFC Registrar of Companies if it refuses to grant an application for DNFBP registration.