22 March 2015

Mr Robert Purves, Counsel (3 Verulam Buildings, London) for the Applicant

Mr Michel Daillet, Advocate, (International Legal Consultants LLC, Doha) for the Respondent

In the name of His Highness Sheikh Tamim bin Hamad Al-Thaui, Emir of the State of Qatar

President Phillips, Justice Dohmann, Justice Al Sayed:

JUDGMENT

INTRODUCTION

1. On 11 May 2014 the QFC Companies Registration Office (“CRO”) issued a Financial Penalty Notice imposing a penalty of US$2,000 on the Respondent (“ILC”). This was the maximum penalty provided for by the QFC Companies Regulations 2005 as amended (“the Regulations”) in respect of the late filing of notice of a change of the registered office of a company.

2. By a Judgment dated 26 October 2014 the Regulatory Tribunal (“the Tribunal”) allowed an appeal against this penalty to the extent of reducing it to US$1,000.

3. On 16 December 2014 the CRO issued a combined Application for Permission to Appeal and Notice of Appeal. This was amended, with the permission of the Court, pursuant to an application by the CRO dated 2 March 2015.