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Past version: effective from Oct 1 2007 - Sep 30 2011.
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For approval under Paragraph GR-5.1.5 to be granted, the CBB must be satisfied that the proposed controller or increase in control poses no undue risks to the licensee. The CBB will therefore consider or reconsider the criteria outlined in paragraphs GR-5.3.6 to GR-5.3.8 in any request for approval. The CBB may impose any restrictions that it considers necessary to be observed in case of its approval of a new controller, or any of the changes listed to existing controllers in paragraph GR-5.1.5 above. These restrictions will include the applicable maximum allowed limit of holding or control (as outlined in GR-5.3). A duly completed Form 2 (Controllers) must be submitted as part of the request for a change in controllersG . An approval of controller will specify the applicable period for effecting the proposed acquisition of shares.

October 07
(3 Versions)
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