GEN 8.12.5

An Authorised Person and Recognised Body must ensure that the contract required under Rule 8.12.4:

(a) is governed by the Regulations and Rules of the ADGM;
(b) expressly provides that the Regulator has a right to enforce the provisions included in the contract under Rule 8.12.4;
(c) expressly provides that, in proceedings brought by the Regulator for the enforcement of those provisions, the skilled person is not to have available by way of defence, set-off or counter claim any matter that is not relevant to those provisions;
(d) if the contract includes an arbitration agreement, expressly provides that the Regulator is not, in exercising the right in (b) to be treated as a party to, or bound by, the arbitration agreement; and
(e) provides that the provisions included in the contract under Rule 8.12.4 are irrevocable and may not be varied or rescinded without the Regulator's consent.