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Location: Central Bank of Bahrain Volume 6—Capital Markets > Part A > Institutions > MAE — Markets and Exchanges > MAE-1 Licensing > MAE-1.7 Surrender of License or Cessation of Business > MAE-1.7.1
  • MAE-1.7 Surrender of License or Cessation of Business

    • MAE-1.7.1

      A licensed exchangeG or licensed market operatorG which intends to cease operating its marketG or, where it operates more than one marketG , all of its marketsG , must apply to the CBB to surrender its approval as a licensed exchangeG or licensed market operatorG , as the case may be.

      Amended: April 2016

    • MAE-1.7.2

      The CBB may, subject to MAE-1.8.1 cancel the license if it is satisfied that the licensed exchangeG or licensed market operatorG referred to in MAE-1.7.1 has ceased operating its marketG or all of its marketsG , as the case may be and that there are no pending obligations of the licensed exchangeG or licensed market operatorG or contracts traded.

    • MAE-1.7.3

      The licensed exchangeG or licensed market operatorG shall publish a notice of its intention to cease to operate its marketG in 2 daily newspapers, one in Arabic and the other in English, in Bahrain.

    • MAE-1.7.4

      Any objections received from any memberG , userG or participantG of the licensed exchangeG or licensed market operatorG shall be considered by the CBB prior to issuing its consent for the surrender of license or cessation of business of the exchange or the operator.

    • MAE-1.7.5

      The notice referred to in Paragraph MAE-1.7.3 shall be subject to the approval of the CBB and shall be published at least 30 days prior to the cessation taking effect.

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