Section 6Part 3 — Requirements in Relation to Directions
Requirements imposed by the Financial Reporting Authority
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6. (1) Where the Financial Reporting Authority gives a direction pursuant to section 3, it may impose any of the requirements specified in sections 7, 8, 9 and 10 in relation to transactions or business relationships with —
a person carrying on business in the country concerned;
the government of the country; or
a person resident or incorporated in the country.
A direction may further impose requirements in relation to —
a particular person under subsection (1);
a description or class of persons under subsection (1); or
all persons under subsection (1).
A direction may make different provision in relation to —
different descriptions or classes of listed persons; and
different descriptions of transaction or business relationship.
The requirements imposed by a direction must be proportionate, having regard to the conditions mentioned in section 5(1)(a) or the risk mentioned in section 5(1)(b) or (c), to the interests of the Islands or the United Kingdom.