CONTENTS
| SECTION | PAGE |
|---|
| PART 1 – OFF-PLAN SALES AND PHASED DEVELOPMENT | 4 |
| 1. Requirement to establish Project Accounts | 4 |
- Account Banks... 14
- Further extensions of time... 14 PART 9 – CONTRAVENTIONS... 14
- Sanctions... 14
- Warning Notices... 15
- Decision Notices... 16
- The Registrar’s procedures... 16
- Right to refer a Decision Notice to the Court... 16
- Access to materials... 16
- Protected Items... 17
- Publication... 17
- Censure statements... 18
- Prohibition orders... 18
- Enforceable undertakings... 18
- Referral to the UAE Central Bank... 18
- Fines... 18 PART 10 – GENERAL... 19
- Defined terms... 19
- Reference... 21
- Short Title, extent and commencement date... 21
OFF-PLAN DEVELOPMENT REGULATIONS (PROJECT ACCOUNT) RULES 2024
Rules to govern the establishment and management of project accounts in respect of off-plan projects, and to make provisions for matters relating thereto.
Date of publication: 1 October 2024
The Board of Directors of the Abu Dhabi Global Market, in exercise of its powers under section 17(2) of the Off-Plan Development Regulations, hereby enacts the following Rules:
PAR...