Foundations Regulations (Amendment No. 1) 2023

Annex B
1
FOUNDATIONS REGULATIONS (AMENDMENT NO. 1) 2023 Regulations to amend the Foundations Regulations 2017 Regulations to make provision for the establishment and registration of foundations in the Abu Dhabi Global Market Date of Enactment: ● 2023 The Board of Directors of the Abu Dhabi Global Market, in exercise of its powers under
Article 6(1) of Law No. 4 of 2013 concerning the Abu Dhabi Global Market, as amended, issued
by His Highness the Ruler of the Emirate of Abu Dhabi, hereby enacts the following Regulations–

1. Amendments to the Foundations Regulations 2017
   The Foundations Regulations 2017 shall be amended by– (1) In subsection 18A(2):
   (a) in subsection (a), the word “and” shall be inserted after the words “permitted by the Registrar”; (b) in subsection (b), the words “Registrar, and” shall be deleted and replaced with the words “Registrar.”; and (c) subsection (c) shall be deleted in its entirety. (2) After subsection 18A(2), a new subsection (2A) shall be inserted as follows:
   “With the exception of section 40 of these Regulations whereby either the Non-Exempt Foundation or the Company Service Provider may make the filing, a Company Service Provider of a Non-Exempt Foundation shall give all notices and make all filings that the Non-Exempt Foundation is obliged to make to the Registrar under:
   (i) these Regulations;
   (ii) the Commercial Licensing Regulations (Conditions of Licence and Branch Registration) Rules 2022 and any licence granted thereunder; and (iii) the Beneficial Ownership and Control Regulations 2022.”
2. Short title, extent and commencement
   (1) These Regulations may be cited as the Foundations Regulations (Amendment No. 1) 2023. (2) These Regulations shall apply in the Abu Dhabi Global Market. (3) These Regulations come into force on the date of their publication.