UAE Central Bank and Financial Institutions Decree-Law

Article 162 — Article (162) Finality of Payment and Settlement

Part Four: Financial Market Infrastructures · Chapter Three: Finality of Transactions and Proceedings

1. All transactions conducted through a Financial Market Infrastructure, which meets one of the designation conditions referred to in item (2) of Article (157) of this decree-law shall be final, irrevocable and irreversible, in any of the following cases: a. Transfer of funds from or to the account of a Participant Person. b. Settlement of a payment obligation. c. Settlement of an obligation to transfer, or the actual transfer of book- entry securities. 2. No transfer or settlement pertaining to the transactions referred to in item (1) of this article shall be cancelled, set aside, re-paid, reversed, or ceased, nor shall it be rectified, whether by a court judgement order, or by law.

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