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GEN 11.12.4

When an Authorised Person appoints an independent expert, the Authorised Person must, in the contract with the independent expert:

(a) require and permit the independent expert to co-operate with the DFSA in relation to the Authorised Person and to communicate to the DFSA information on, or his opinion on, matters of which he has, or had, become aware in his capacity as an independent expert reporting on the Authorised Person in the following circumstances:
(i) the independent expert reasonably believes that, as regards the Authorised Person concerned:
(A) there is or has been, or may be or may have been, a contravention of any relevant requirement that applies to the Authorised Person concerned; and
(B) that the contravention may be of material significance to the DFSA in determining whether to exercise, in relation to the Authorised Person concerned, any powers conferred on the DFSA under any provision of the Regulatory Law 2004;
(ii) the independent expert reasonably believes that the information on, or his opinion on, those matters may be of material significance to the DFSA in determining whether the Authorised Person concerned satisfies and will continue to satisfy the fit and proper requirements; or
(iii) the independent expert reasonably believes that the Authorised Firm is not, may not be, or may cease to be, a going concern;
(b) require the independent expert to prepare a report within the time specified by the DFSA; and
(c) waive any duty of confidentiality owed by the independent expert to the Authorised Person which might limit the provision of information or opinion by that independent expert to the DFSA in accordance with (a) or (b).