Central Bank of Bahrain Law: Contents

Central Bank of Bahrain and Financial Institutions Law 2006
Central Bank of Bahrain and Financial Institutions Law 2006 (English)
Central Bank of Bahrain and Financial Institutions Law
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Article (87) Cancellation of Listing and Suspension of Trading

(a) The Central Bank may decide to cancel the listing of any securities that contravene the requirements of the Listing Rules, or to suspend the trading of any listed securities facing exceptional circumstances that the Central Bank considers as sufficient grounds for the suspension of the securities. The cancellation of listing or the suspension of trading shall be decided by the Governor.
(b) The Exchange must effect the cancellation or suspension decisions and notify the issuer in writing accordingly. The written notice shall contain the reasons for such cancellation or suspension, the date on which the cancellation or suspension takes effect, and any other details related to the matter.
(c) The issuer of securities may appeal against the Central Bank's decision to cancel or suspend dealing, within fifteen days of the date of notification of such decision. The appeal shall be decided upon and the appellant informed of the decision within one month from making the appeal. The issuer of the securities may re-appeal, against the refusal of the first appeal, to a competent court within thirty days from notification of such rejection.
(d) The Central Bank shall issue Regulations specifying the cases in which it will cancel the listing or suspend the trading of securities.
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(1 Version)
 
Sep 7 2006 onwards
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