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In the case of overseas insurance licenseesG , the branch 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 branch becomes aware. The overseas insurance firm licenseeG must provide a copy of the relevant approval by the home supervisorG of the parent. The CBB will take the appropriate action in such case.

Added: October 2015
(1 Version)
Oct 1 2015 onwards
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