926. Request for assistance by non-Abu Dhabi Global Market regulatory authority
(1) The powers conferred by section 927 are exercisable by the Registrar for the purpose of assisting a non-Abu Dhabi Global Market regulatory authority which has requested his assistance in connection with inquiries being carried out by it or on its behalf.
(2) A “non-Abu Dhabi Global Market regulatory authority” means an authority which in a country or territory outside the Abu Dhabi Global Market exercises—
(a) any function corresponding to any function of the Registrar or the Board under these Regulations, or
(b) any function prescribed for the purposes of this subsection by order of the Board, being a function which in the opinion of the Board relates to companies or financial services.
(3) The Registrar shall not exercise the powers conferred by section 927 unless it and the corresponding Abu Dhabi Global Market regulatory body are is satisfied that the assistance requested by the non-Abu Dhabi Global Market regulatory authority is for the purposes of its regulatory functions.
An authority’s “regulatory functions” means any functions falling within subsection (2) and any other functions relating to companies or financial services.
(4) In deciding whether to exercise those powers the Registrar may take into account, in particular—
(a) whether corresponding assistance would be given in that country or territory to an authority exercising regulatory functions in the Abu Dhabi Global Market,
(b) whether the inquiries relate to the possible breach of a law, or other requirement, which has no close parallel in the Abu Dhabi Global Market or involves the assertion of a jurisdiction not recognised by the Abu Dhabi Global Market,
(c) the seriousness of the matter to which the inquiries relate, the importance to the inquiries of the information sought in the Abu Dhabi Global Market and whether the assistance could be obtained by other means,
(d) whether it is otherwise appropriate in the public interest to give the assistance sought.
(5) The Registrar may decline to exercise those powers unless the non-Abu Dhabi Global Market regulatory authority undertakes to make such contribution towards the costs of their exercise as the Registrar considers appropriate.
(6) References in this section to financial services include, in particular, investment business, insurance and banking.