Associate

(1) In Chapters 7 and 11 of GEN and Chapter 8 of AMI means, in respect of a Person 'A' holding Shares or entitled to exercise, or control the exercise of voting power, in an Authorised Firm or a Holding Company of an Authorised Firm:
(a) the spouse of A;
(b) a child or stepchild of A;
(c) the trustee of any settlement, including any disposition or arrangement under which property is held on trust or subject to a comparable obligation, under which A has a life interest in possession;
(d) an Undertaking of which A is a director;
(e) a Person who is an Employee or partner of A;
(f) where A is an Undertaking:
(i) a director of A;
(ii) a subsidiary or wholly owned subsidiary of A; or
(iii) a director or Employee of such a subsidiary or wholly owned subsidiary; or
(g) a Person who has an agreement or arrangement with A with respect to the acquisition, holding or disposal of Shares or other interests in the Authorised Firm or the Holding Company of an Authorised Firm or under which they undertake to act together in exercising their voting power in relation to an Authorised Firm or the Holding Company of an Authorised Firm or that other Person.
(2) Except in Chapters 7 and 11 of GEN and Chapter 8 of AMI means in respect of a Person 'A', any Person, including an affiliated company which is:
(a) an undertaking in the same Group as A; or
(b) any other person whose business or domestic relationship with A or his Associate might reasonably be expected to give rise to a community of interest between them which may involve a conflict of interest in dealings with third parties.

Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
[Amended] DFSA RM110/2012 (Made 23rd December 2012). [VER29/12-12]
[Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]