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W 150/06 PIB — Fortis Bank

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WAIVER NOTICE

To Fortis Bank
Address Level 5, East Wing, The Gate Building, PO Box 211104,
DIFC, Dubai, UAE
DFSA Firm Reference No. F000298
Notice No. W150/2006

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 28th August 2006 and remains in effect until further notice.

RULES WAIVED

The Rules waived are set out in the table below and Table 2 in chapter PIB 1 is to be construed accordingly.

Module Version Rule
PIB/VER7/08-06 Chapter PIB 1, Section PIB 1.2 & PIB 1.4 (Financial Resources & The Trading Book)
PIB/VER7/08-06 Chapter PIB 2, all Sections (Capital)

CONDITIONS

The waivers in respect of the Rules specified above remain in effect on condition that the Authorised Firm submits to the DFSA, on a quarterly basis, a copy of its latest Capital Adequacy summary report to Commission Bancaire, Financiere et des Assurances, within ten business days of the due date for submission to Commission Bancaire, Financiere et des Assurances.

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 : David Knott
Position : Chief Executive
Date : 28th August 2006