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 (130) Administrative Proceedings

If imposing administrative restrictions upon the Licensee, with respect to the cases stated in Article (128) of this law, proves to be futile, then the central Bank may take any of the following measures:

(1) Appointing an observer member on the board of directors of the Licensee for a period specified by the Central Bank. Such a member shall have the authority to participate in the deliberations of the board of directors and to give opinions on any resolutions passed by the board.
(2) Placing the Licensee under administration pursuant to the provisions of chapter 2 of part 10 of this law.
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(1 Version)
 
Sep 7 2006 onwards
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