7.1. Accounts and audit

Part 10 (Accounts, reports and audit) of the AIFC Companies Regulations does not apply to a Special Purpose Company to the extent that it requires the accounts of the Special Purpose Company to be audited, unless:

1. (a) the Special Purpose Company has obtained a listing on any stock exchange of Securities issued by it; or
2. (b) the Special Purpose Company is a subsidiary of a Public Company, which publishes consolidated accounts and those accounts do not include the accounts of the Special Purpose Company.