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MAE-5.3.23

Where the CBB is satisfied that an approved personG :

(a) Has wilfully contravened or wilfully caused that licensed exchangeG to contravene the CBB Law, rules and regulations;
(b) Has without reasonable excuse, failed to ensure compliance by the licensed exchangeG , or a personG associated with that licenseeG with the CBB Law rules and regulations;
(c) Has failed to discharge the duties or functions of his office or employment;
(d) Is an undischarged bankrupt, whether in Bahrain or elsewhere;
(e) Has been convicted whether in Bahrain or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly;

the CBB may if it thinks it is necessary in the interests of or for the protection of investors, by notice in writing direct that a licenseeG remove the approved personG from his office or employment, and that licenseeG shall comply with such notice.

Added: April 2013
 Versions
(1 Version)
 
Apr 1 2013 onwards
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