Schedule 1– Definitions
Effective from Feb 07 2023 - Aug 23 2023
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| Term | Definition |
| “Client Agreements” | has the meaning ascribed to it in the Market Conduct Rulebook. |
| “Company Rulebook” | means the Company Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Compliance and Risk Management Rulebook” | means the Compliance and Risk Management Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Custody Services” | has the meaning ascribed to it in Schedule 1 of the Regulations. |
| “Custody Services Rulebook” | means this Custody Services Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Directive” | has the meaning ascribed to it in the Regulations. |
| “Dubai VA Law” | means Law No. [4] of 2022 Regulating Virtual Assets in the Emirate of Dubai, as may be amended from time to time. |
| “Emirate” | means all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. |
| “Entity” | means any legal entity or individual. |
| “Group” | has the meaning ascribed to it in the Company Rulebook. |
| “Licence” | has the meaning ascribed to it in the Regulations. |
| “Licensed” | means holding a valid Licence. |
| “Market Conduct Rulebook” | means the Market Conduct Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Outsourcing” | has the meaning ascribed to it in the Company Rulebook. |
| “Paid-Up Capital” | has the meaning ascribed to it in the Company Rulebook. |
| “Regulations” | means the Virtual Assets and Related Activities Regulations 2023, as may be amended from time to time. |
| “Reserve Assets” | has the meaning ascribed to it in the Company Rulebook. |
| “Rule” | has the meaning ascribed to it in the Regulations. |
| “Rulebook” | has the meaning ascribed to it in the Regulations. |
| “Senior Management” | has the meaning ascribed to it in the Company Rulebook. |
| “UAE” | means the United Arab Emirates. |
| “VA Activity” | means the activities listed in Schedule 1 of the Regulations, as may be amended from time to time. |
| “VARA” | means the Dubai Virtual Assets Regulatory Authority. |
| “VASP” | means an Entity Licensed by VARA to conduct VA Activity[ies] in the Emirate. |
| “Virtual Asset” or “VA” | has the meaning ascribed to it in the Dubai VA Law. |
| “VA Wallet” | has the meaning ascribed to the term “Virtual Asset Wallet” in the Dubai VA Law. |