Central Bank of Bahrain Law: Contents

Central Bank of Bahrain and Financial Institutions Law 2006
Central Bank of Bahrain and Financial Institutions Law 2006 (English)
Central Bank of Bahrain and Financial Institutions Law
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Article (125) Warning Notice

Prior to imposing any penalties or administrative proceedings upon the Licensee, the Central Bank must deliver to him a written notice containing the following:

(a) The violations committed by the Licensee with respect to the provisions of this law, the resolutions and bylaws issued in enforcing thereof, or of the terms and conditions of the License, accompanied by the evidence and proves that convinced the Central Bank that such violation had occurred.
(b) The penalty or administrative proceedings intended to be imposed upon the Licensee.
(c) The grace period to be allowed for challenging the intended penalty or administrative proceedings, which should not be less than thirty days as from the date of serving the notice.
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(1 Version)
 
Sep 7 2006 onwards
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