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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > Introduction > UG Users Guide > UG-1 Rulebook Status and Application > UG-1.1 Legal Basis > CBB's Rulemaking Instruments > UG-1.1.9
  • CBB's Rulemaking Instruments

    • UG-1.1.4

      Regulations are made pursuant to Article 37 of the CBB Law. These instruments have general application throughout the Kingdom and bind all persons ordinarily affected by Bahraini legislative measures (i.e. residents and/or Bahraini persons wherever situated).

      Added: January 2007

    • UG-1.1.5

      Because Regulations have wide general application, they are subject to two important safeguards: (i) the CBB is under a duty to consult with interested parties and to review their comments; and (ii) the finalised Regulations only become effective after they are published in the Official Gazette.

      Added: January 2007

    • UG-1.1.6

      Directives are made pursuant to Article 38 of the CBB Law. These instruments do not have general application in the Kingdom, but are rather addressed to specific licenseesG (or categories of licenseesG ), approved personsG or registered personsG . Directives are binding to whom they are addressed.

      Added: January 2007

    • UG-1.1.7

      Unlike Regulations, there is no duty on the CBB to either consult with addressees or publicise a Directive by publishing it in the Official Gazette (save that an addressee must obviously have actual or constructive notice of a Directive). However, as a matter of general policy, the CBB also consults on Rulebook content issued by way of a Directive.

      Added: January 2007

    • UG-1.1.8

      All of the content of the CBB Rulebook has the legal status of at least a Directive, issued pursuant to Article 38 of the CBB Law. Certain of the requirements contained in the CBB Rulebook may also have the status of a Regulation, in which case they are also separately issued pursuant to Article 37 of the CBB Law and published in the Official Gazette. When this is the case, then the Rulebook crossrefers to the Regulation in question and specifies the requirements concerned.

      Adopted: July 2007

    • UG-1.1.9

      In keeping with the nature of these regulatory requirements, Regulations are used to supplement the CBB Rulebook, either where explicitly required under the CBB Law, or where a particular requirement needs to have general applicability, in addition to being applied to licensees, approved personsG , or registered persons.

      Adopted: July 2007
      Amended: October 2007

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