1. A financial and business centre to be known as the “Qatar Financial Centre” (which may be referred to as “the Centre”) shall initially be located in Doha.
2. The location of the QFC shall initially be set and can be altered from time to time by the Council of Ministers.
3. Any entity established and operating in the State outside the location set pursuant to paragraph 2, will, when so designated by the Minister, be deemed to be established and operating within the QFC, provided that it is appropriately approved, authorised or licensed to do so and has provided an undertaking to the QFC Authority to move its operations into the QFC at the expiry of the designation. Such a designation shall be for a fixed period of six months from the date of designation. The designation shall be renewable on expiry for a further period not to exceed six months at the sole discretion of the Minister and upon his being satisfied that valid grounds exist for the granting of any such extension.