Condition 1 - Fit and proper person
1. The applicant is a body corporate and is a fit and proper person to hold a licence as a company service provider and every person who is, or is to be, a director, partner or manager of the applicant is a fit and proper person to hold that position.
2. In determining whether an applicant is a fit and proper person to hold a licence as a company service provider, regard shall be had to–
(a) the nature, scale and complexity of the activities of the applicant and any associated risks that those activities pose to the Abu Dhabi Global Market,
(b) whether the applicant's business model will allow for its affairs and business to be conducted and managed in a sound and prudent manner, having regard in particular to the interests of consumers and the integrity of the Abu Dhabi Global Market,
(c) whether the person who is, or is to be, a director, partner or manager of the applicant is a fit and proper person to hold that position,
(d) any matter which may harm or may have harmed the integrity or the reputation of the Registrar or the Abu Dhabi Global Market, and
(e) any other relevant matters.
3. In determining whether an individual is a fit and proper person to hold a particular position with respect to the applicant, regard shall be had to–
(a) their probity, competence, experience and soundness of judgement for fulfilling the responsibilities of that position,
(b) the diligence with which they are fulfilling or likely to fulfil those responsibilities,
(c) whether the interests of clients of the applicant are, or are likely to be, in any way threatened by them holding that position,
(d) in the case of those who will manage the applicant’s affairs, their skills, experience, educational and professional qualifications, membership of professional or other relevant bodies and any evidence of their continuing professional education or development,
(e) their knowledge and understanding of the legal and professional obligations to be assumed or undertaken, and
(f) their record of compliance with legal obligations, with any professional obligations or with policies and procedures applicable to them.