ADGM Regulations · Abu Dhabi Global Market
Distributed Ledger Technology Foundations Regulations 2023
A reference record of Distributed Ledger Technology Foundations Regulations 2023, drawn from the instrument's own official text. It sets out how the law is organised — its Parts, its section count and its length — and links to the text itself. It does not interpret the law or offer advice on it.
Where this instrument arises in our work: Trusts & Foundations
At a glance
| Citation | Distributed Ledger Technology Foundations Regulations 2023 |
| Instrument type | ADGM Regulations |
| Enacted | 2023 |
| Jurisdiction | Abu Dhabi Global Market |
| Parts | 15 |
| Numbered sections | 122 |
| Chapters | 0 |
How Distributed Ledger Technology Foundations Regulations 2023 is organised
The 15 Parts below are the instrument's own divisions, in the order the official text sets them out.
| Part | Heading |
|---|---|
| Part 1 | Citation, Entry Into Force, Definitions And Interpretation |
| Part 2 | Introduction |
| Part 3 | Establishment And Registration |
| Part 4 | Dlt Foundation Assets |
| Part 5 | Obligations |
| Part 6 | Dlt Foundation Documents |
| Part 7 | Governance And Council |
| Part 8 | Disqualification And Liability |
| Part 9 | Guardian |
| Part 10 | Beneficiaries And Tokenholders |
| Part 11 | Accounting Records And Annual Accounts |
| Part 12 | Audit |
| Part 13 | Foreign Laws |
| Part 14 | Migration |
| Part 15 | Dissolution And Striking-Off |
What Distributed Ledger Technology Foundations Regulations 2023 covers, section by section
The 122 section headings below are the instrument's own, reproduced in its order. They are a map of the law, not a summary of it — for the wording of any article, read the official text.
- Citation and Entry into Force
- Definitions and interpretation
- DLT Foundations
- Establishing and Registering a DLT Foundation
- Objects of a DLT Foundation
- Names of DLT Foundations
- Registration
- Statement of Initial Beneficial Ownership and Control
- Certificate of Registration
- Registered office
- DLT Foundations to have a Company Service Provider
- Obligations of Company Service Provider and DLT Foundation
- Service of Documents on DLT Foundations
- Powers of the Registrar
- Fees payable to the Registrar
- [DELETED]
- Fines for late filings
- Powers of the Court
- Minimum Initial Asset Value
- Undertakings to Endow a DLT Foundation
- Assets of a DLT Foundation
- Management of Foundation Assets
- Relevant Obligations
- DLT Foundation Charter
- Amendments and Changes
- By-laws of the DLT Foundation
- Key Principles
- Reserved Matters and Founder Reserved Matters
- Foundation Council
- Appointment of Councillors
- Persons Disqualified from Being Councillors
- Notice of Appointment and Removal of Councillor
- Liability of Councillors for Breach of Duty
- Guardian
- Persons Disqualified from Being Guardian
- Liability of a Guardian for Breach of Duty
- Powers of the Guardian
- Guardian Ceasing to Act
- Beneficiaries of DLT Foundations
- Tokenholders
- Accounting Records
- A DLT Foundation’s financial year
- Accounting reference periods and accounting reference date
- Alteration of accounting reference date
- Accounts to give a fair representation
- Duty to prepare the Annual Accounts
- Information to be included
- Approval and signing of the Annual Accounts
- Duty to publish copies
- Default in publishing copies: contraventions
- Duty to file Accounting Records and Auditor’s Reports with the Registrar
- Period allowed for filing
- Calculation of period allowed
- Filing obligations of DLT Foundations generally
- Default in filing: late filing fee
- Default in filing: Court order
- Voluntary revision of Annual Accounts etc.
- Registrar’s notice in respect of the Annual Accounts and Auditor’s Reports
- Application to Court in respect of defective Annual Accounts and Auditor’s Reports
- Other Persons authorised to apply to the Court
- Power of authorised Person to require documents, information and explanations
- Restrictions on disclosure of information obtained under compulsory powers
- Permitted disclosure of information obtained under compulsory powers
- Power to amend categories of permitted disclosure
- Liability for false or misleading statements in the Auditor’s Reports
- Preparation and filing of Annual Accounts in other relevant currencies
- Notes to the Annual Accounts
- Minor definitions
- Maintaining Records
- Requirement for audited Annual Accounts
- Appointment of auditors of DLT Foundation: general
- Appointment of auditors of DLT Foundation: default power of Registrar
- Terms of office of auditors of DLT Foundation
- Fixing of auditor’s remuneration
- Disclosure of terms of audit appointment
- Disclosure of services provided by auditor or associates and related remuneration
- Auditor’s Report
- Auditor’s Report
- Duties of auditor
- Auditor’s general right to information
- Auditor’s rights to information: contraventions
- Auditor’s rights in relation to resolutions and meetings
- Signature on the Auditor’s Report
- Senior auditor
- Names to be stated in published copies of Auditor’s Report
- Circumstances in which names may be omitted
- Contraventions in connection with the Auditor’s Report
- Resolution removing auditor from office
- Notice to Registrar of resolution removing auditor from office
- Rights of auditor who has been removed from office
- Resignation of auditor
- Notice to Registrar of resignation of auditor
- Statement by auditor to be deposited with DLT Foundation
- DLT Foundation’s duties in relation to statement
- Copy of statement to be sent to Registrar
- Duty of auditor to notify the Registrar
- Effect of casual vacancies
- Voidness of provisions protecting auditors from liability
- Indemnity for costs of successfully defending proceedings
- Liability limitation agreements
- Terms of liability limitation agreement
- Effect of liability limitation agreement
- Disclosure of agreement by DLT Foundation
- Foundation Property
- Bankruptcy of a Founder or Subsequent Transferor
- Overseas Person Migrating to the ADGM
- Requirements for an Overseas Person to Register in ADGM
- Prohibition on Registration of Overseas Persons
- Registration of an Overseas Person
- Restriction on Alienation of Foundation Property
- Facility to Transfer Registration
- Dissolution of Foundations
- Striking off on application by DLT Foundation with notice
- Circumstances in which application not to be made: activities of DLT Foundation
- Circumstances in which application not to be made: other proceedings not concluded
- Copy of application to be given to creditors
- Circumstances in which application to be withdrawn
- Withdrawal of application
- Petition to the Court for Dissolution
- Striking off for Default
- Consequences of Striking Off
- Reinstatement on the DLT Foundations Register
Primary sources
Everything on this page comes from these two. Links go to the issuing legislator.
Acting on Distributed Ledger Technology Foundations Regulations 2023
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