1.1. Name

These Rules are the AIFC Companies Rules 2017 (or COR).

1.2. Commencement

These Rules commence on 1 January 2018.

1.3. Legislative authority

These Rules are adopted by the Board of Directors of the AFSA under section 181 (Power to adopt Rules etc.) of the AIFC Companies Regulations.

1.4. Application of these Rules

These Rules apply within the jurisdiction of the AIFC.

1.5. Definitions etc.

1.5.1. Schedule 4 (Interpretation) contains definitions used in these Rules.

1.5.2. Terms used in these Rules (other than terms defined in Schedule 4) have the same meanings as they have, from time to time, in the AIFC Companies Regulations, or the relevant provisions of those Regulations, unless the contrary intention appears.

Note: For definitions in the AIFC Companies Regulations applying to these Rules, see Schedule 1 of those Regulations. The definitions in that Schedule relevant to these Rules include the following:

• Accounting Records

• AFSA

• AIFCA

• AIFC Regulations

• AIFC Rules

• Allotment, of Shares in a Company

• Annual General Meeting, of a Company

• Articles of Association, of a Company

• Body Corporate

• Breach

• Company

• Contravene

• Court

• Creditor

• Director, in relation to a Company or another Body Corporate

• Distribution, in relation to a Company

• Document

• Exercise

• Fail

• Financial Services Regulator

• Foreign Company

• Function

• General Meeting, of a Company

• Incorporator, of a Company (or proposed Company)

• Legislation Administered by the Registrar

• Liability

• Objectives, of the Registrar

• Officer, of a Company or another Body Corporate

• Ordinary Resolution, of a Company

• Paid-up

• Person

• Personal Representative, in relation to an individual who has died

• Private Company

• Public Company

• Recognised Company

• Registered Details

• Registrar of Companies (or Registrar)

• Resolution, of a Company

• Secretary, of a Company or another Body Corporate

• Security, of a Company

• Share, in a Company

• Shareholder, of a Company

• Special Resolution, of a Company

• Subsidiary

• Writing.

1.6. Administration of these Rules

These Rules are administered by the Registrar of Companies.