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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > Reporting Requirements > BR CBB Reporting > Chapter BR-2 Notifications and Approvals > BR-2.2 Notification Requirements > Controllers > BR-2.2.23
  • Controllers

    • BR-2.2.23

      If, as a result of circumstances outside the Bahraini investment firm licensee'sG knowledge and/or control, one of the changes to their controllersG specified in Paragraph GR-5.1.1 is triggered prior to CBB approval being sought or obtained, the Bahraini investment firm licenseeG must notify the CBB no later than 15 calendar days from the date on which those changes occurred (ref. GR-5.1.5).

      Amended: January 2017
      Amended: October 2015
      Adopted: October 2009

    • BR-2.2.23A

      Overseas investment firm licenseesG must notify the CBB of any new significant ownership in excess of 50% of the issued and paid up capital of the concerned licensee'sG direct parent undertakingG as soon as the licenseeG becomes aware of the change (see Paragraph GR-5.5.1).

      Adopted: October 2015

    • BR-2.2.24

      As specified in Article 52 of the CBB Law, an investment firm licenseeG must notify the CBB of the following events:

      (a) If effective control over a licenseeG takes place indirectly whetherby way of inheritance or otherwise.
      (b) Gaining control directly as a result of any action leading to it.
      (c) The intention to take any of the actions that would lead to control.
      Adopted: October 2009

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