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Schedule 1 Interpretation

1. Rules of interpretation

(1) In the Law, a reference to:
(a) a statutory provision includes a reference to the statutory provision as amended or re-enacted from time to time;
(b) a Person includes a reference to a government, State, State agency, company, Partnership or unincorporated association;
(c) an obligation to publish or cause to be published a particular document shall, unless expressly provided otherwise in the Law, include publishing or causing to be published in printed or electronic form;
(d) a day shall refer to a business day, being a normal working day in the Centre; and
(e) a calendar year shall mean a year of the Gregorian calendar.
(2) The headings in the Law shall not affect its interpretation.

2. Legislation in the Centre

References to legislation and Guidance in the Law shall be construed in accordance with the following provisions:

(a) Tier 1 Legislation is law made by the federal government of the United Arab Emirates;
(b) Tier 2 Legislation is law made by the government of the Emirate of Dubai;
(c) Tier 3 Legislation is law made by the Chairman (including, by way of example, the Law);
(d) Tier 4 Legislation is law made by the Regulatory Authority under the Law;
(e) Guidance is indicative and non-binding Guidance made and issued by the Regulatory Authority under the Law; and
(f) references to "the Law and legislation made under the Law" are references to the Law and Tier 4 Legislation made under the Law.

3. Defined terms

In the Law, unless the context indicates otherwise, the defined terms listed below shall have the corresponding meanings:

Term Definition
Ancillary Service has the meaning given in legislation made under Article 44(1)
Ancillary Service Provider a Person who is licensed by the Regulatory Authority in relation to the conduct of one or more Ancillary Services
Authorised Firm a Person who holds a Licence to conduct one or more Licensed Services
Authorised Individual a Person who has been authorised by the Regulatory Authority to perform one or more licensed Functions
Authorised Market Institution an Exchange, clearing and settlement institution or Alternative Trading System licenced by the Regulatory Authority under Article 45
Authority the executive body of the Centre, established under Article 3(2) of Dubai Law No. 3 of 2002
Board the Board of the Centre as defined in Article 2 of Dubai Law No. 3 of 2002
Centre The Dubai International Financial Centre, established under Article 3(1) of Dubai Law No. 3 of 2002
Chairman the chairman of the Centre, established under Dubai Law No. 3 of 2002
Chairman of the Regulatory Authority the Person appointed to the office of chairman of the Regulatory Authority, a Council Member and chairman of the Council, by the Chairman
Chief Executive the Person appointed to the office of Chief Executive by the Chairman of the Regulatory Authority
Council the Governing Body of the Regulatory Authority, established under Chapter 2 of Part 2 of Law
Council Member a Person appointed to the office of Member of the Council
Disciplinary Tribunal a standing committee of the Council, established under and governed by Chapter 4 of Part 2 of the Law
Exempt Firm a Person who conducts a Licensed Service within the scope of an exemption provided for under Article 43
Exempt Individual has the meaning given in Article 61(3)
Financial Service has the meaning given in legislation made under Article 42(1)
Financial Services Prohibition has the meaning given in Article 42(5)
Foreign Regulator a regulator of Financial Services activities established in a jurisdiction other than the Centre
Guidance indicative and non-binding Guidance made and issued by the Regulatory Authority under the Law
Investigating Officer an officer appointed under Article 8 1 (1) by the Regulatory Authority
Law The Regulatory Law No. [1] of 2003
Licence a Licence granted by the Regulatory Authority under Chapter 2 of Part 3
Licensed Function has the meaning given in legislation made under Article 62(1)
Licensed Service has the meaning given in Tier 4 Legislation made under 42(2)
Regulatory Appeals Committee a standing committee of the Council, established under and governed by Chapter 3 of Part 2 of the Law
Regulatory Authority The regulator of the Centre, established under Chapter 1 of Part 2 of the Law
Respondent A Person who is the subject of a matter before a Disciplinary Tribunal
Schedule A schedule to the Law