W 236/06 OSR — Credit Suisse Group

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To Credit Suisse Group
Address Level 9 &10,
The Gate, DIFC,
PO Box 33660,
Dubai, UAE
DFSA Firm Reference No. F000011
Notice No. W236/2006


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 28 December 2006 and remains in effect until further notice.


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 OSR Rule 2.4.1 (1)(b)(ii).

Rule Modified Text
OSR 2.4.1(1)
2.4.1 (1) The DFSA, for the purposes of Article 14(2)(d) of the Markets Law 2004, prescribes an Offer as an Exempt Offer where:
(a) the Offer satisfies at least one of the following conditions:
(i) the Securities are Commercial Paper, certificates of deposit or bills of exchange;
(ii) the Offer is made to no more than 50 Offerees in the DIFC in any 12 month period;
(iii) the total consideration payable for the Securities does not exceed one million dollars; or
(iv) the Securities are Debentures and the minimum consideration which may be paid by any Person for the Securities acquired by him pursuant to the Offer is $50,000; or
(b) the Offer is of Securities that:
(i) are Shares and are offered by the Issuer to members, creditors or Employees of the Issuer or their Relatives;
(ii) are issued and offered by a Body Corporate to its employees or to a member or an Employee of a member of the same Group as the Body Corporate;
(iii) result from the conversion of a Convertible and a Prospectus relating to the Convertible has been published in the DIFC under these Rules; or
(iv) are Shares, Certificates representing Shares, or Warrants to subscribe for Shares in a Body Corporate offered by the Body Corporate in exchange for Securities in the same Body Corporate and the Offer does not result in any increase in the issued Share capital of that Body Corporate.
(2) An Exempt Offer is a Personal Exempt Offer if it:
(a) satisfies the conditions set out in Rules 2.4.1(1)(a)(ii) and (iii);
(b) may only be accepted by the Person to whom it is made; and
(c) is made to a Person who is likely to be interested in the Offer having regard to:
(i) previous contact between the Person making the Offer and that Person;
(ii) a professional or other connection between the Person making the Offer and that Person; or
(iii) statements or actions by that Person that indicate that they are interested in offers of that kind.




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
Date : 28 December 2006