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W 08/05 PIB — Merrill Lynch Bank (Suisse) S.A

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WAIVER NOTICE

To Merrill Lynch Bank (Suisse) S.A
Address PO Box 3911, Dubai UAE
DFSA Firm Reference No. 10010
Notice No. W 08/05

THE DFSA HEREBY GIVES NOTICE THAT:

The Rules specified in the table herein do not apply to the above mentioned Person.

This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.

Effective Date: This notice comes into effect on 7 April 2005 and expires on 7 April 2007 or the date on which any rule specified herein is amended, which ever is the earlier.

RULES WAIVED

The Rules waived are set out in the table below.

DFSA Rulebook Module Version rule
PIB/VER1/255/09-04 PIB rule 1.2.1
PIB/VER1/255/09-04 PIB Rules 1.4.1 to 1.4.3 (inclusive)
PIB/VER1/255/09-04 PIB Rules 2.1.1 to 2.10.4 (inclusive)

CONDITIONS

The waivers in respect of the Rules specified above remain in effect for the duration of the period set out above on condition that:

(a) Merrill Lynch Bank (Suisse) S. A. submits to the DFSA a copy of the Swiss Federal Banking Commission’s (SFBC’s) Capital Adequacy Summary every six months; to be submitted to the DFSA within ten days of the due date to the SFBC.

INTERPRETATION

The provisions in this notice are to be construed in accordance with GEN section 6.2 of as if these provisions are provisions of the Rulebook.

Defined terms are identified in this notice by the capitalization 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 : David King
Position : Acting Chief Executive
Date : 7 April 2005