263. Persons subject to non-Abu Dhabi Global Market restrictions

(1) This section defines what is meant by references in this Chapter to a person being subject to foreign restrictions.
(2) A person is subject to non-Abu Dhabi Global Market restrictions if under the laws of the United Arab Emirates as applicable outside of the Abu Dhabi Global Market, or of a country or territory outside the Abu Dhabi Global Market—
(a) he is, by reason of misconduct or unfitness, disqualified to any extent from acting in connection with the affairs of a non-ADGM company,
(b) he is, by reason of misconduct or unfitness, required—
(i) to obtain permission from a Court or other authority, or
(ii) to meet any other condition,
before acting in connection with the affairs of a non-ADGM company, or
(c) he has, by reason of misconduct or unfitness, given undertakings to a Court or other authority of a country or territory outside the Abu Dhabi Global Market—
(i) not to act in connection with the affairs of a non-ADGM company, or
(ii) restricting the extent to which, or the way in which, he may do so.
(3) The references in subsection (2) to acting in connection with the affairs of a non-ADGM company are to doing any of the following—
(a) being a director of a company,
(b) acting as receiver of a company's property, or
(c) being concerned or taking part in the promotion, formation or management of a company.
(4) In this section—
(a) "non-ADGM company" has the meaning given to that term in section 1028 (minor definitions: general), and
(b) in relation to such a non-ADGM company—

"director" means the holder of an office corresponding to that of director of a company incorporated under these Regulations, and

"receiver" includes any corresponding officer under the law of that country or territory.