2.5 Withdrawal of a Licence

(1) A Representative Office seeking to have its Licence withdrawn must submit a request in writing to the AFSA stating:

(a) the reasons for the request;

(b) that it has ceased or will cease to carry on the Regulated Activity of Operating a Representative Office in or from the AIFC;

(c) the date on which it ceased or will cease to carry on the Regulated Activity of Operating a Representative Office in or from the AIFC;

(d) that it has satisfied, or will satisfy, all obligations owed in respect of its business under the Licence; and

(e) that there are no other matters relating to its business under the Licence of which the AFSA would reasonably expect to be notified, or might reasonably expect to be resolved, before agreeing to the request.

(2) The AFSA may withdraw a Representative Office's Licence pursuant to REP 5.1.