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MAE-1.5.1

The CBB may revoke any exemption granted to a personG under MAE-1.4.3 if:

(a) The personG does not commence operating its marketG or, where it operates more than one marketG , all of its marketsG , within 6 months from the date on which it was granted the exemption;
(b) The personG ceases to operate its marketG or, where it operates more than one marketG , all of its marketsG ;
(c) The personG contravenes:-
(i) Any condition or restriction relating to the exemption;
(ii) Any direction issued to it by the CBB; or
(iii) Any provision of the CBB Law or Regulations;
(d) The CBB is of the opinion that the personG has operated in a manner that is contrary to the interests of the public;
(e) The personG is in the course of being wound up or otherwise dissolved, whether in Bahrain or elsewhere;
(f) A receiver, a receiver and manager or an equivalent personG has been appointed, whether in Bahrain or elsewhere, in relation to, or in respect of, any property of the personG ;
(g) The personG has been convicted, whether in Bahrain or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that it had acted fraudulently or dishonestly;
(h) The CBB is of the opinion that the personG would be more appropriately regulated as a licensed exchangeG or a licensed market operatorG ; or
(i) Any information or document provided by the personG to the CBB is false or misleading.
Amended: April 2013
 Versions
(2 Versions)
 
Oct 1 2008 - Mar 31 2013Apr 1 2013 onwards
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