EN-5.1 EN-5.1 Requirements for individuals
EN-5.1.1
Article 85 of the BMA Decree — Law No. 23 of 1973 ("BMA Law") provides that any Director, manager or official responsible for the direction or management of a licensee, is to be considered removed from office should he be convicted by a court for a crime affecting his honesty; is declared bankrupt by a court; or if a court rules that his legal capacity is totally or partially impaired.
EN-5.1.2
The Agency's standard conditions and licensing criteria, issued pursuant to Article 59 of the BMA Law, require that management and staff of a licensee should be adequately qualified and experienced.
EN-5.1.3
In addition, chapter HC-2 specifies that all persons wishing to hold or holding the position of Director, Chief Executive/General Manager or Manager in a licensee must be assessed by the Agency as "fit and proper" to hold such a position. The chapter specifies various factors that the Agency takes into account when reaching such a decision.
EN-5.1.4
In interpreting the term "manager" for the purposes of Article 85 of the BMA Decree — Law No. 23 of 1973, the Agency uses the definition given in chapter HC-2. The same definition applies when the term "manager" is used in other modules, unless a different definition is explicitly provided for in the module concerned.
