1. Title pro

These Regulations may be cited as the Framework Regulations.

2. Legislative Authority

These Regulations are enacted by the Governor in exercise of the powers conferred on the AIFC Bodies, including the Governor by the Constitutional Statute, and specifically by Article 4(3) of the Constitutional Statute.

3. Application of these Regulations

(1) These Regulations apply within the jurisdiction of the AIFC.

(2) Without limiting subsection (1), these Regulations apply to any Person who conducts business in or from the AIFC.

4. Commencement

These Regulations will commence on 1 January 2018.

5. Interpretation

Words and expressions used in these Regulations and interpretative provisions applying to these Regulations are set out in the Glossary.

6. Meaning of “in or from the AIFC"

(1) A Person will be deemed to be carrying on activities in or from the AIFC for the purposes of these Regulations if:

• (a) that Person is a Centre Participant and the day-to-day management of those activities (even if those activities are undertaken in whole or in part from outside the AIFC) is the responsibility of the Centre Participant in its capacity as such; or
• (b) that Person’s head office is outside the AIFC but the activity is carried on from a branch maintained by it in the AIFC; or
• (c) the activities are conducted in circumstances that are deemed to amount to activities carried on in or from the AIFC under Rules made by the AFSA.

(2) The AFSA may make Rules and give guidance as to the circumstances in which activities capable of having an effect in or from the AIFC are or are not to be regarded as conducted in the AIFC.