QFCRA definition
Examples of QFCRA in a sentence
The Client acknowledges that the data protection legislation outside the QFC may not offer the same level of protection as the QFCRA Rules and Regulations.
The Client represents and warrants to the Bank that it qualifies as a ‘Business Customer’ as defined in the Glossary of defined terms within the QFCRA Interpretation and Application Rulebook and the QFCRA Conduct of Business Rulebook, and has completed the Client Declaration, Undertaking and Authorisation set out in the customer application ▇▇▇▇.▇▇ protection available to retail customers may be available to the Client.
Clearing Bank may provide foreign exchange services to Participant for the Participant to square its RMB position for trade related transactions or such other transactions as may be approved by the PBC and/or the QFCRA from time to time based on the then prevailing China Foreign Exchange Market rate.
The Clearing Bank will not conduct transactions for Participant which the Clearing Bank deems are of significantly high risk, which may involve persons, entities or countries that are contained on any lists issued by the Clearing Bank, the PBC or the QFCRA or other international bodies.
If there are any amendments to the PBC Clearing Agreement, or the termination of the PBC Clearing Agreement and its replacement with a new authorisation or agreement without any change in the identity of the Clearing Bank, the Clearing Bank may at its discretion make any corresponding revision or supplement to this Agreement by any means (including in the form of supplement or addendum) and report such revision or supplement to the PBC and/or the QFCRA.
If and when required by any authority having jurisdiction over the Clearing Bank (including but not limited to the PBC or the QFCRA), the Participant is obliged to provide the Clearing Bank with a good working knowledge of its customer’s business, financial background and any other related matters or information as required by the authority, subject to any confidentiality restrictions which the Participant may be subject to.
Provided further, this restriction on further disclosure is not applicable to disclosure by Clearing Bank to the PBC and/or the QFCRA.
The Participant shall be responsible to formulate its own internal operating guidelines for its Renminbi trade settlement business and report or file them with the PBC and/or the QFCRA to the extent and no later than the time required.