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An application for a license to operate as a clearing houseG or central depositoryG under Article 39 of the CBB Law shall be made in Form 1 and shall be lodged with the CBB, together with the following:

(a) Form 3 (Application for Approved Person Status) and Form 4 (Information on Shareholders and Subsidiaries);
(b) Any relevant annexe and information specified in those forms;
(c) A non-refundable prescribed application fee of BD100;
(d) A business plan setting forth the internal controlling and risk management procedures of the enterprise; furthermore, the business plan must contain a budgeted accounting plan for the first three business years;
(e) The memorandum and articles of association of the company or any of its constituent documents;
(f) Three-year operational plans including the organisational structure, communication facilities and training programmes;
(g) Draft business rules in respect of its operations as a licensed clearing house or central depository; and
(h) The details of the proposed authorised and paid-up capital.
Amended: April 2013
(2 Versions)
May 1 2009 - Mar 31 2013Apr 1 2013 onwards
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