The DFSA shall not, in respect of liabilities secured under the collateral arrangements referred to in RAR Rule 3.6.2(2)(a) that are not title transfer collateral arrangements:
(a) transfer assets against which a liability is secured under any such arrangement, unless that liability and the benefit of the security are also transferred;
(b) transfer a secured liability, unless the benefit of the security is also transferred;
(c) transfer the benefit of the security under any such arrangement, unless the secured liability is also transferred; or
(d) modify or terminate such an arrangement through the exercise of ancillary powers, if the effect of that modification or termination is that the liability ceases to be secured.
Derived from DFSA RMI283/2020 (Made 16th December 2020). [VER1/04-21]