W 02/06 GEN — Franklin Templeton Investment Management Limited
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MODIFICATION NOTICE
| To | Franklin Templeton Investment Management Limited |
| Address | Franklin Templeton Investment Management Limited Level 5, 640-B, Al Ghurair City Office Towers PO Box 55311 Dubai United Arab Emirates |
| DFSA Firm Reference No. | F000004 |
| Notice No. | W 02/06 |
THE DFSA HEREBY GIVES NOTICE THAT:
The Rules specified in the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply to that Person in the modified form prescribed in that table below.
This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.
Effective date: This notice comes into effect on 26 January 2006 and remains in effect for three years from the day it comes into effect or until the date on which any rule specified herein is amended, whichever is earlier.
RULES MODIFIED
The Rules listed in the left hand column of the table below are modified as shown in the right hand column of the table. In this table, underlining indicates new text and striking through indicates deleted text.
The version of Rules to which this notice relates is GEN/VER6/12-05.
| Rule | Modified Text |
| GEN 8.2.1 (1) | An Authorised Person must prepare and maintain all financial accounts and statements in accordance with the International Financial Reporting Standards (IFRS) unless (2) or (3) applies or in accordance with generally accepted accounting principles of the United Kingdom. |
| GEN 8.6.1 |
An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person’s
accounts in accordance with the requirements of
the relevant standards published by the
International Auditing and Assurance Standards
Board (IAASB) in respect of conventional financial
business and the Accounting and Auditing
Organisation for Islamic Financial Institutions
(AAOIFI) in respect of any Islamic Financial
Business undertaken or in accordance with legal
and regulatory requirements under UK law and
auditing standards issued by its Auditing Practices
Board.
[…]
(c) produce an Auditor’s Annual Report which
states whether:
(i) the auditor has audited the Authorised
Person’s annual financial statements in accordance
with the IAASB or AAOIFI in respect of Islamic
Financial Business or in accordance with legal and
regulatory requirements under UK law and auditing
standards issued by its Auditing Practices Board.
(ii) the auditor has carried out any other
procedures considered necessary, having regard to
the IAASB and to AAOIFI auditing standards in
respect of Islamic Financial Business or to the UK
law and auditing standards issued by its Auditing
Practices Board. |
CONDITIONS
Valid for three years from the day it comes into force.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
| This notice was issued by: | |
| Name : | Jane Coakley |
| Position : | Managing Director — Authorisation |
| Date : | 26 January 2006 |