1.1. Application of these Rules

These Rules apply to:

1. (a) a Domestic Fund Manager which manages:
2. (i) a Domestic Fund; or

(ii) a Foreign Fund; or

1. (b) a Foreign Fund Manager which manages a Domestic Fund; and
2. (c) a Centre Participant which markets a Collective Investment Scheme in or from the AIFC.

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1.3. Waivers

A Person may apply to the AFSA to waive any specific requirement of these Rules in respect of a Fund Manager or a Fund.

1.4. Interrelationship with the laws of Kazakhstan

The general laws of Kazakhstan will not apply to the management or marketing of a Fund in the AIFC in accordance with these Rules. However, the general laws of Kazakhstan will apply to the management or marketing of a Fund in Kazakhstan outside the AIFC notwithstanding compliance with these Rules in the AIFC.

1.5. Foreign Fund Managers

A Foreign Fund Manager is permitted to manage a Domestic Fund in accordance with these Rules, and if the Units of such Fund are Offered in the AIFC, then it must be an Exempt Fund as defined in Rule 2.2(a).

Guidance

A Foreign Fund Manager is not permitted to manage a Non-Exempt Fund where it offers the Units of a Fund in the AIFC. If a Foreign Fund Manager markets the Units of a Domestic Fund in jurisdictions other than the AIFC, the marketing of that Domestic Fund will be subject to the rules of the relevant non-AIFC jurisdiction.