Special Purpose Vehicle

(1) In FER 1.2.7(3) and MKT App 5, a legal entity the object and purpose of which is primarily to issue Securities;
(2) In relation to Property Investment Crowdfunding, a Body Corporate or a trust that has been established for the purpose of holding title to a property for investors; and
(3) In any other case, a Body Corporate whose sole purpose, either generally or when acting in a particular capacity, is to carry out one or more of the following functions:
(a) issuing Investments;
(b) redeeming or terminating or repurchasing, whether with a view to re-issue or to cancellation, an issue, in whole or par, of Investments; or
(c) entering into transactions or terminating transactions involving Investments in connection with the issue, redemption, termination or re-purchase of Investments;
and has been explicitly established for the purpose of:
(d) securitising assets; or
(e) investing in Real Property
and, in the case of (d), has been assessed by a rating agency.
Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
[Amended]DFSA RM34/2006[VER9/08-06]
[Amended] DFSA RM173/2016 (Made 10th February 2016). [VER35/04-16]
[Amended] DFSA RM257/2019 (Made 26th June 2019). [VER44/07-19]