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RAR 3.2.2

(1) Where the DFSA exercises the power under Article 84N(1)(p) of the Law to suspend any payment or delivery obligations the suspension will take effect from when notice under that Article is given of the suspension (as an action the DFSA intends to take) until midnight at the end of the second business day after the notice is given, except that:
(a) where a payment or delivery obligation is due during the suspension period the payment or delivery obligation will be due immediately upon expiry of the suspension period; and
(b) where a payment or delivery obligation has been suspended the payment and delivery obligations of the counterparty under the contract will also be suspended for the same period.
(2) A suspension shall not apply to:
(a) Deposits of an Eligible Depositor; or
(b) payment and delivery obligations owed to an AMI, payment system, Central Counterparty, Securities Settlement System, Central Securities Depository or the Central Bank.

 

Derived from DFSA RMI283/2020 (Made 16th December 2020). [VER1/04-21]