Comments on AIFC Law

Comments on AIFC Law

22 June 2021 

Meaning of 'Appeal' - Obiter Dictum of Nursultan Aliyev written by Victor Chan, Supervisor, AIFC Academy of Law 

In this article, we will revisit the case and take a deep dive into the obiter dictum of the Court of Appeal's (“ CA ”) judgment. We will look at the nature of an appeal, further evidence in an appeal, as well as the application for permission to appeal.

Full article: Meaning of 'Appeal' - Obiter Dictum of Nursultan Aliyev.

28 May 2021

Meaning of 'Unfair Prejudice' in Company Law  written by Victor Chan, Supervisor, AIFC Academy of Law

A minority shareholder who feels aggrieved by virtue of unfairly prejudicial conduct on the part of the majority has a powerful avenue for redress in the form of a petition brought under s. 175 AIFC Companies Regulations.  However, what are the crucial elements of this provision?  What amounts to 'unfair prejudice'?

Full article: Meaning of 'Unfair Prejudice' in Company Law

30 April 2021

Meaning of 'Rules of Interpretation' written by Victor Chan, Supervisor, AIFC Academy of Law

Lord Justice Cooper of the Scottish Court of Sessions once remarked: 'The distinction [between civil law and common law] may be put in many ways ... The civilian naturally reasons from principles to instances, the common lawyer from instances to principles. The civilian puts his faith in syllogisms, the common lawyer in precedents; the first silently asking himself as each new problem arises, "What should we do this time?" and the second asking aloud in the same situation, "What did we do last time?" '

In the AIFC jurisdiction, all legal practitioners should be able to proudly ask aloud (and answer) "What did we do last time?". The series of 'Meaning of ...' aims to dissect some of the key legal concepts in the AIFC law by exploring the relevant landmark precedents in England and Wales. But before we do that, it is important to first understand the three interpretation rules that are frequently used by common law judges when they must define a specific word or phrase. After all, no language - whether it is English, Kazakh, or Russian - enjoys the precision and universality of mathematics. 

Full article:  Meaning of Interpretation

12 April 2021

Regulation of Activities in the Sphere of Financial Services  written by Yelena Manayenko and Iminov Farukh, Partner and Junior Associate, AEQUITAS Law Firm 

Service in the financial sphere, for which the AIFC Participants must issue the AFSA license, are divided into 3 groups. The authors of this articles describes in detail the licensing rules of certain companies, and also highlights the key requirements to exchange listing (AIX). 

Full article: Regulation of Activities in the Sphere of Financial Services

29 March 2021 

Employment Dismissals in the AIFC  written by Michael Chattle and Luke Tapp, Solicitor and Partner, Pinsent Masons

Under the AIFC Regulations No. 4 of 2017 (as amended), employers have a reasonable amount of discretion to dismiss their employees when restructuring their workforces. However, the Employment Regulations do not give employers a completely free hand, and substantial risks remain for employers when dismissing employees that can have significant consequences if not done correctly. 

Full article: Employment Dismissals in the AIFC

25 February 2021

Specifics of Setting Up and Registering Companies in the AIFC  written by Tair Kulteleev, Associate, AEQUITAS Law Firm 

According to the Constitutional Law, the rules for companies registering within the AIFC have some special features. This brief overview describes the division of legal forms, as well as the main aspects of the registration procedure. 

Full article: Specifics of Setting Up and Registering Companies in the AIFC


The views and opinions expressed in all DISCOURSE publications are those of the authors and do not necessarily reflect the official policy or position of the AIFC Academy of Law, any other AIFC body or entity, or any other agency, organization, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the authors and these views are always subject to change, revision, and rethinking at any time.

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