BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



Location: Central Bank of Bahrain Volume 6—Capital Markets > Part A > Institutions > MAE — Markets and Exchanges > MAE-3 Rules of Licensed Exchanges > MAE-3.3 Amendment of Business Rules and Listing Rules > MAE-3.3.2
  • MAE-3.3 Amendment of Business Rules and Listing Rules

    • MAE-3.3.1

      A licensed exchangeG or licensed market operatorG which intends to amend its business rulesG or listing rulesG shall, prior to making the amendment, notify the CBB of:

      (a) The proposed amendment;
      (b) The purpose of the proposed amendment; and
      (c) The date on which the proposed amendment is intended to come into force.

    • MAE-3.3.2

      The licensed exchangeG shall, prior to notifying the CBB under MAE-3.3.1, consult its usersG and participantsG on the proposed amendment, unless the proposed amendment would have limited impact on its usersG and participantsG .

    • MAE-3.3.3

      Provided however that on receipt of the notification, if CBB is of the opinion that the usersG and the participantsG would be impacted by the amendments, it may require the licensed exchangeG to consult its usersG and participantsG .

    • MAE-3.3.4

      Subject to Paragraphs MAE-3.3.5 and MAE-3.3.7, an amendment shall not come into force unless the notification referred to in Paragraph MAE-3.3.1 is submitted at least 21 days before the date on which the amendment is proposed to come into force.

    • MAE-3.3.5

      The CBB may, on its own initiative or on the application of the licensed exchangeG or licensed market operatorG , by notice in writing to the licensed exchangeG or licensed market operatorG , make or allow an amendment to come into force before the expiry of the period of 21 days referred to in Paragraph MAE-3.3.2.

    • MAE-3.3.6

      The CBB may, subject to Paragraph MAE-3.3.7, within 21 days after the receipt of the notification referred to in Paragraph MAE-3.3.1, by notice in writing to the licensed exchangeG , disallow, alter or supplement the whole or any part of the proposed amendment and, thereupon such whole or part of the proposed amendment as the case may be:

      (a) Where it is disallowed, shall not come into force; or
      (b) Where it is altered or supplemented, shall come into force as altered or supplemented accordingly.

    • MAE-3.3.7

      The CBB, may on its own initiative, by notice in writing to the licensed exchangeG or licensed market operatorG , vary the period specified in Paragraph MAE-3.3.6, and where the period in that paragraph is extended, the amendment shall not come into force before the expiry of the extended period.

Back to top