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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > Introduction > ES Executive Summary > ES-2 Implementation and Transition Rules > ES-2.2   1 July 2006
  • ES-2.2   1 July 2006

    • ES-2.2.1

      Unless otherwise agreed to in writing with the CBB, investment firm licenseesG issued a license before 30 April 2006 must comply with the requirements contained in the first phase release of Volume 4 (Investment Business) by 1 July 2006, with the exceptions of Modules CA, BC and CL.

      Amended: January 2007

    • ES-2.2.2

      Therefore, for investment firmsG already licensed when Volume 4 was first issued in April 2006, the first implementation date (unless additional transition arrangements have been agreed with in writing with the CBB) is 1 July 2006. A later implementation deadline is given for Modules CA, BC and CL, on account of the wide scope of their requirements: see Section ES-2.3

      Amended: January 2007

    • ES-2.2.3

      The first phase release of Volume 4 comprises Modules ES, UG, AU, PB, AA, GR, CA, BC, CL, FC and EN.

    • ES-2.2.4

      Other implementation deadlines are prescribed in Sections ES-2.1, ES-2.3 and ES-2.4.

    • ES-2.2.5

      On an exceptional basis, the CBB may provide for grandfathering or additional transitional measures for certain firms, where these are faced with difficulties in meeting their implementation deadlines, provided such arrangements do not cause excessive risk to investors or other licensees.

      Amended: January 2007

    • ES-2.2.6

      Investment firm licenseesG who were licensed prior to the publication of Volume 4 (Investment Business) do not need to resubmit an application for a license.

    • ES-2.2.7

      Investment firm licensees licensed prior to 30 April 2006 will have their license category, and the scope of their authorisation, confirmed in an exchange of letters.

      Amended: July 2010

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