Notice of Amendments to Legislation (20 June 2012)

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20 Jun 2012, 12:06 pm

Notice of Amendments to Legislation

Following the ending of the consultation period on a number of proposed legislative changes, that were set out in Consultation Papers No. 75, 76, 77 and 78 the DFSA Board after due consideration of consultees comments, recommended to the President of the DIFC that a new Markets Law be introduced to replace the current 2004 Markets Law and amendments be made to the Regulatory Law 2004 and made amendments to the DFSA Rulebook as described below. Please bear in mind that changes may have been made to the legislation originally proposed in the relevant consultation papers.

TAKE NOTICE THAT:

His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as Ruler of Dubai on 7 June 2012 enacted the Markets Law 2012 and the Regulatory Law Amendment Law 2012 to come into force on 5 July 2012.

To view the new Markets Law and the changes made to the Regulatory Law 2004 please click here .

AND

The DFSA Board made the following Rulemaking Instruments to come into force on the date the Laws come into force (5 July 2012)

• MARKETS RULES RULE MAKING INSTRUMENT (NO. 81) 2011, which introduced a new module of the DFSA Rulebook namely the Markets Rules (MKT) module;

• FEES MODULE (FER) INSTRUMENT (NO. 83) 2011, which repeals and replaces the Fees Module (FER) module of the DFSA Rulebook with an updated version (see appendix 1 attached hereto for the detailed amendments);

• TAKEOVER RULES MODULE (TKO) INSTRUMENT (NO. 87) 2012, which repeals and replaces the Takeover Rules Module (TKO) module of the DFSA Rulebook with an updated version (see appendix 2 attached hereto for the detailed amendments);

• REPRESENTATIVE OFFICE MODULE (REP) INSTRUMENT (NO. 88) 2012, which repeals and replaces the Representative Office Module (REP) module of the DFSA Rulebook with an updated version (see appendix 3 attached hereto for the detailed amendments);

• PRICE STABILISATION MODULE (PRS) INSTRUMENT (NO. 89) 2012, which repeals and replaces the Price Stabilisation Module (PRS) module of the DFSA Rulebook with an updated version (see appendix 4 attached hereto for the detailed amendments);

• RECOGNITION MODULE (REC) INSTRUMENT (NO. 90) 2012, which repeals and replaces the Recognition Module (REC) module of the DFSA Rulebook with an updated version (see appendix 5 attached hereto for the detailed amendments);

• GLOSSARY MODULE (GLO) INSTRUMENT (NO. 91) 2012, which repeals and replaces the Glossary Module (GLO) module of the DFSA Rulebook with an updated version (see appendix 6 attached hereto for the detailed amendments);

• AUTHORISED MARKET INSTITUTIONS MODULE (AMI) INSTRUMENT (NO. 92) 2012, which repeals and replaces the Authorised Market Institutions Module (AMI) module of the DFSA Rulebook with an updated version (see appendix 7 attached hereto for the detailed amendments);

• COLLECTIVE INVESTMENT RULES MODULE (CIR) INSTRUMENT (NO. 93) 2012, which repeals and replaces the Collective Investment Rules Module (CIR) module of the DFSA Rulebook with an updated version (see appendix 8 attached hereto for the detailed amendments);

• ISLAMIC FINANCE RULES MODULE (IFR) INSTRUMENT (NO. 94) 2012, which repeals and replaces the Islamic Finance Rules Module (IFR) module of the DFSA Rulebook with an updated version (see appendix 9 attached hereto for the detailed amendments); and

• GENERAL MODULE (GEN) INSTRUMENT (NO. 95) 2012, which repeals and replaces the General Module (GEN) module of the DFSA Rulebook with an updated version (see appendix 10 attached hereto for the detailed amendments).

The rule-making instruments mentioned above and the appendices to this notice can be viewed under the “Amendments to Legislation” section of the DFSA website and the relevant modules of the Rulebook will be replaced on the DFSA website on the date of their coming into force as described above. Earlier versions of the relevant modules are to be found in the archive. Please note: rule-making Instruments 82, 84, 85 and 86 were superseded on 5 July 2012 by rulemaking instruments 90, 91, 92 and 95 above in order to include certain consequential amendments regarding the Markets Law 2012.

Issued

18 June 2012

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