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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > Reporting Requirements > BR CBB Reporting > BR-2 Notifications and Approvals > BR-2.2 Notification Requirements > Breaches of Rules and Other Requirements > BR-2.2.4
  • Breaches of Rules and Other Requirements

    • BR-2.2.4

      An insurance licenseeG must notify the CBB of:

      (a) A significant breach of any provision of the Rulebook (including a Principle);
      (b) A breach of any requirement imposed by the relevant law or by Regulations or an order made under any relevant law by the CBB; or
      (c) The bringing of a prosecution for, or conviction of, any offence under any relevant law against the insurance licenseeG that would prevent the insurance licenseeG from meeting the Principles or Business (Module PB) or any of its DirectorsG , officersG , approved personsG , or appointed representativesG from meeting the fit and proper requirements of Module AU.
      Amended: January 2007
      Amended: October 2007

    • BR-2.2.5

      An insurance licenseeG must make the notification in Paragraph BR-2.2.4 immediately it becomes aware, or has information which reasonably suggests, that any of the matters in Paragraph BR-2.2.4 has occurred, may have occurred or may occur in the foreseeable future (refer also to Paragraph EN-8.2.3).

      Amended: January 2007

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