| Term |
Definition |
| “Board” |
has the meaning ascribed to it in the Company Rulebook. |
| “Client Agreements” |
has the meaning ascribed to it in the Market Conduct Rulebook. |
| “Company Rulebook” |
means the Company Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Compliance and Risk Management Rulebook” |
means the Compliance and Risk Management Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Distributed Ledger Technology” or “DLT” |
has the meaning ascribed to the term “Distributed Ledger Technology” in the Dubai VA Law. |
| “Dubai VA Law” |
means Law No. [4] of 2022 Regulating Virtual Assets in the Emirate of Dubai, as may be amended from time to time. |
| “Emirate” |
means all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. |
| “Entity” |
means any legal entity or individual. |
| “Licence” |
has the meaning ascribed to it in the Regulations. |
| “Licensed” |
means having a valid Licence. |
| “Lending and Borrowing Services” |
has the meaning ascribed to it in Schedule 1 of the Regulations. |
| “Lending and Borrowing Services Rulebook” |
means this Lending and Borrowing Services Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Market Conduct Rulebook” |
means the Market Conduct Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Regulations” |
means the Virtual Assets and Related Activities Regulations 2023, as may be amended from time to time. |
| “Rule” |
has the meaning ascribed to it in the Regulations. |
| “Rulebook” |
has the meaning ascribed to it in the Regulations. |
| “Senior Management” |
has the meaning ascribed to it in the Company Rulebook. |
| “UAE” |
means the United Arab Emirates. |
| “VA Activity” |
means the activities listed in Schedule 1 of the Regulations, as may be amended from time to time. |
| “VARA” |
means the Dubai Virtual Assets Regulatory Authority. |
| “VASP” |
means an Entity authorised by VARA to conduct VA Activity[ies] in the Emirate. |
| “Virtual Asset” or “VA” |
has the meaning ascribed to it in the Dubai VA Law. |