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GR-5.1.5

For purposes of Paragraph GR-5.1.4, prior approval from the CBB must be obtained when any of the following changes relating to controllersG (as defined in Section GR-5.2 and subject to the limits as outlined in Section GR-5.3) apply:

(a) A new controllerG ;
(b) An existing controllerG increasing its holding from above 10% and up to and including 20% of issued and paid up share capital;
(c) An existing controllerG increasing its holding from above 20% and up and including 30% of issued and paid up share capital;
(d) An existing controllerG increasing its holding from above 30% and up to and including 40% of issued and paid up share capital; or
(e) An existing controller increasing its holding to above 40% of the issued and paid up share capital of an unlisted bank. In this instance, the controller must be a regulated legal person.
Amended: July 2013
Amended: October 2011
Amended: January 2011
October 07
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