35. Application of AIFC Insolvency Regulations

The AIFC Insolvency Regulations apply in relation to an Incorporated Organisation as if:

• (a) a reference to a Company were a reference to an Incorporated Organisation; and
• (b) a reference to a director or officer of a Company were a reference to a Founding Member of an Incorporated Organisation; and
• (c) a reference to the articles of association of a Company were a reference to the Charter of Organisation of an Incorporated Organisation; and
• (d) a reference to a meeting of a Company were a reference to a meeting of the Founding Members of an Incorporated Organisation; and
• (f) any other necessary change, and any change prescribed by the Rules, were made.

36. Obligation of disclosure to Registrar of Companies

(1) An Incorporated Organisation or an Auditor of an Incorporated Organisation must disclose to the Registrar of Companies any matter that reasonably tends to show:

• (a) that the Incorporated Organisation has or may have Contravened these Regulations; or
• (b) any other matter prescribed by the Rules or any other Legislation Administered by the Registrar.

(2) Contravention of subsection (1) is punishable by a fine.

(3) Subsection (1) does not require disclosure of a privileged communication.

(4) An Incorporated Organisation must establish and maintain appropriate systems and internal procedures to enable it to comply with subsection (1).

(5) Any provision in an agreement between an Incorporated Organisation and an Employee, agent or Auditor is void so far as it purports to hinder any Person from causing or assisting an Incorporated Organisation to comply with subsection (1).

(6) A Person must not be subjected to detriment, loss or damage only because the Person does anything to cause or assist an Incorporated Organisation to comply with subsection

(1).

(7) The Court may, on the application of an aggrieved Person, make any order for relief if the Person has been subjected to any detriment, loss or damage mentioned in subsection

(6).

(8) In this section: privileged communication means a communication attracting a privilege arising from the provision of professional legal advice or any other advice to which the relationship of lawyer and client or other similar relationship applies, but does not include a communication to which a general duty of confidentiality only applies.

37. Compliance with orders etc. of Registrar to Incorporated Organisations

(1) If the Registrar of Companies makes an order, issues a direction, or makes a requirement, (however described) in relation to an Incorporated Organisation under these Regulations, the Rules or any other Legislation Administered by the Registrar, each Founding Member must ensure that the Incorporated Organisation complies with it.

(2) Contravention of this section is punishable by a fine.

38. Public registers

(1) The Registrar of Companies must keep and publish registers of current and past registrations of Incorporated Organisations in accordance with any requirements prescribed by the Rules.

(2) The Registrar of Companies must make a reasonably current version of each register kept under subsection (1) freely available for viewing by the public during the normal business hours of the Registrar.