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The CBB may direct a licensed exchangeG or licensed market operatorG to remove an officer from his office or employment under Paragraph MAE-8.1.1 on any of the following grounds without giving the licensed exchangeG or licensed market operatorG an opportunity to be heard:

(a) The officer is an undischarged bankrupt whether in Bahrain or elsewhere; or
(b) The officer has been convicted whether in Bahrain or elsewhere, of an offence:
(i) Involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and
(ii) Punishable with imprisonment for a term of 3 months or more.
Amended: April 2016
Amended: April 2013
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