Part 37 - General Supplementary Provisions

Resolutions

Article 1069 - Resolutions and subordinate legislation

1. The Board shall have a general power to make rules amending any of the provisions of these Regulations by adding, altering or repealing provisions.

2. The Board may make rules, containing such terms and conditions as the Board may in its discretion specify, delegating to the Registrar or the Financial Services Regulator any power that the Board has under any Part of these Regulations to make or issue any rules or other subordinate legislation.

3. Any power or powers delegated by the Board under subsection (2) shall be exercised by the Registrar or the Financial Services Regulator by means of subordinate legislation made or issued by the Registrar or Financial Services Regulator (as the case may be).

4. Any subordinate legislation made or issued by the Registrar or the Financial Services Regulator (as the case may be) under subsection (3) shall have the same force and effect as if it were and shall otherwise be treated under these Regulations as being rules made by the Board.

5. Subordinate legislation under these Regulations may-

   (a) make different provision for different cases or circumstances,

   (b) include supplementary, incidental and consequential provision,

   (c) make transitional provision and savings, and

   (d) revoke or amend any rules or other subordinate legislation, provided that, unless the Board specifies otherwise in accordance with section 1069(2), only the Board may revoke or amend by rules any previous rules or any other subordinate legislation made or issued by the Board.

Consequential and transitional provisions

Article 1070 - Power to make consequential amendments and provide relief

1. The Board may make rules which make provision for the amendment, repeal or revocation of any provision of these Regulations or of any subordinate legislation made under these Regulations as it considers necessary or expedient in consequence of any provision made by or under these Regulations.

2. Without prejudice to the generality of the power conferred by subsection (1), rules made under this section may−

   (a) make provision extending to other forms of organisation any provision made by or under these Regulations in relation to companies, or

   (b) make provision corresponding to that made by or under these Regulations in relation to companies,

   in either case with such adaptations or other modifications as appear to the Board (or, as the case may be, the other person referred to in section 1069(2)) to be necessary or expedient.

3. The references in subsection (3) to provision made by these Regulations include provision conferring power to make provision by rules or other subordinate legislation.

4. Amendments and repeals made under this section are additional, and without prejudice, to those made by or under any other provision of these Regulations.

5. The Registrar may, on the application of a person who is subject to—

   • Part 6, section 74 (a company’s registered office),

     Part 7, Chapter 2, section 100 (bodies corporate which are eligible for continuance),

     Part 7, Chapter 2, section 101 (restrictions on continuance),

     Part 7, Chapter 2, section 102 (application to Registrar for continuance within the Abu Dhabi Global Market),

     Part 14, Chapter 6, section 411 (requirements in connection with publication of non-registrable and other accounts),

     Part 14, Chapter 8, section 415 (duty to file accounts and reports with the Registrar),

     Part 14, Chapter 8, section 418 (filing obligations of companies subject to small companies regime),

     Part 14, Chapter 8, section 420 (filing obligations of medium-sized companies),

     Part 14, Chapter 8, section 421 (filing obligations of companies generally),

     Part 23, section 778 (duty to deliver annual returns), or

     Part 33, section 995 (form of company records),

     direct, by notice in writing to a person, that any of those sections—

     • (a) are not to apply to that person, as specified in a direction notice from the Registrar; or
     • (b) are to apply to that person with modifications, specified in a direction notice from the Registrar.

6. The Registrar may only exercise the direction power in subsection (5) where, in the reasonable discretion of the Registrar, public policy grounds exist.

7. The Registrar may request from an applicant under subsection (5) any information it reasonably requires to exercise the Registrar’s discretion in subsection (5) and (6).

8. Notwithstanding the provisions of subsections (5), (6) and (7), the Registrar must not exercise the discretion provided for in subsection (5) in relation to any person who is subject to sections 100, 101 and 102 of these Regulations, unless such person provides the Registrar with satisfactory evidence acceptable to the Registrar, which is issued from the relevant governmental authority of the jurisdiction under which that person is incorporated and permits that person to submit an application to the Registrar for continuance within Abu Dhabi Global Market.