Source: https://qfcra-en.thomsonreuters.com/rulebook/article-33-enforceability-agreements
Timestamp: 2020-08-07 11:50:49
Document Index: 246033248

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9', 'art 10', 'art 11', 'art 12', 'art 13', 'art 14', 'art 15', 'art 16', 'art 17', 'art 18', 'art 19', 'art 6']

Article 33 - Enforceability of agreements | Rulebook
QFC Legislation
QFC Authority
QFC Regulatory Authority
QFCA Contacts
QFCRA Contacts
Qatar Financial Centre Legislation: Contents
Qatar Financial Centre Legislation
QFC Law No. (7) of Year 2005
QFC Regulations
Arbitration Regulations 2005
Companies Regulations 2005
Contract Regulations 2005
Data Protection Regulations 2005
Part 1: Application, Commencement and Interpretation
Part 2: Introduction
Part 3: The Regulatory Authority
Part 4: Regulated Activities
Part 5: Authorisation Requirements and Process
Article 27 - Application
Article 28 - Form and content of Application
Article 29 - Grant of Authorisation, variation or withdrawal and rejection of an Application
Article 30 - Status of Authorisation
Article 31 - Own initiative action by the Regulatory Authority
Article 32 - Right to refer matters to the Appeals Body
Article 33 - Enforceability of agreements
Part 6: Controllers
Part 7: Individuals and Controlled Functions
Part 8: Supervision and Investigations
Part 9: Disciplinary and Enforcement Powers
Part 10: Enforcement Procedure
Part 11: Financial Communications
Part 12: Market Abuse
Part 13: Contraventions
Part 14: Complaints and Compensation
Part 15: Appointment of Auditors and Actuaries
Part 16: Control of Business Transfers
Part 17: Investment Funds
Part 18: Miscellaneous
Part 19: Interpretation and Definitions
Schedule 1: The Regulatory Authority
Schedule 2: Other Duties, Functions and Powers Conferred on the Regulatory Authority
Schedule 3: Regulated Activities and Permitted Activities
Schedule 4: The Appeals Body
Foundation Regulations 2016
Insolvency Regulations 2005
Investment Clubs Regulations 2016
Limited Liability Partnerships Regulations 2005
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Partnership Regulations 2007
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‹ Article 32 - Right to refer matters to the Appeals Body Part 6: Controllers ›
(1) An agreement made in the course of carrying on a Regulated Activity by a Person who is not an Authorised Firm shall be unenforceable against the other party to the agreement.
(2) The other party to the agreement may apply to the Tribunal to recover:
(A) any money paid or property transferred by him under the agreement; and
(B) compensation for any loss suffered by him as a result of such payment or transfer.
(3) If the other party chooses not to perform his obligations under the agreement or recovers any money paid or property transferred by him under the agreement, he shall repay any money or property received by him under the agreement.
(4) Where property transferred under the agreement has been transferred to a third party, references in this Article 33 to such property shall be interpreted as references to the value of the property at the time of the transfer under the agreement.
(5) If the Tribunal is satisfied that:
(A) the Person referred to in Article 33(1) reasonably believed that he was not in breach of the Authorisation requirement set out in Article 11(2) of the QFC Law, and
(B) it is just and equitable in all the circumstances to do so,
the Tribunal may make an order declaring that the agreement referred to in Article 33(1) shall be upheld and that money and property paid or transferred under the agreement be retained, or otherwise dealt with in such way as the Tribunal shall determine.
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