2.1.1. Application procedure

A Person located in a jurisdiction other than the AIFC may apply to the AFSA for an order declaring it to be a Recognised Non-AIFC Member by:

1. (a) completing the form prescribed in Schedule 1 and filing the form with the AFSA accompanied by such documents as are specified in the Form;
2. (b) providing such further information as the AFSA may require; and
3. (c) paying the Fee prescribed in the Fees Rules to the AFSA.

2.1.2. The making of a recognition order

(1) Before making a recognition order, the AFSA will need to be satisfied that the applicant meets the requirements for recognition in section 91 of the Framework Regulations (“the Non-AIFC Member Recognition Requirements”).

(2) If the AFSA considers that the Non-AIFC Member Recognition Requirements are satisfied, it may make a recognition order, which will state the date on which it takes effect.