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"In these circumstances, it will clearly be necessary to provide effective and legitimate deputisation," it adds.
The Swiss stock exchange, Zurich-based SWX, has imposed a fine of CHF30,000 (USD28,600) on French bank Societe Generale (SocGen) (SOGN.PA) (OTC: SCGLY) for violating provisions on the registration and deputisation of traders two years ago, according to a report by Associated Press.
As a representative from the Credit Union Industry Association has observed in relation to the first Exposure Draft, "there is a kind of deputisation of the entire financial sector to gather information on people and report information on people to a vast number of federal agencies" (quoted in SLCLC, 2006: 61).
The effect of these provisions was to remove the need for claimants to take a DIFC Courts' judgment to the Dubai Courts for conversion into a Dubai Courts' judgment and subsequent referral on to the Ras Al Khaimah Courts under the so-called 'deputisation' process.
Minister Al Jowder expressed pride in HH Shaikh Khalid bin Hamad Al Khalifa's deputisation of the minister to deliver the prizes to the winners of the tournament.