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  • HC-A.3 HC-A.3 Module history

    • Evolution of the Module

      • HC-A.3.1

        This Module was first issued in January 2005, as part of the initial release of Volume 2 of the BMA Rulebook. It was dated January 2005. All subsequent changes to this Module are shown with the month and year in which the change was made, at the base of the relevant page and in the Table of Contents. Chapter UG-3 provides further details on Rulebook maintenance and version control.

      • HC-A.3.2

        A list of recent changes made to this Module is shown below:

        Module Ref. Change Date Description of Changes
        HC-1.5 01/07/05 Transparency requirements formalised
        HC-1.6 01/07/05 Notification concerning senior positions/controllers
        HC-1.1, HC-1.2 & HC-1.4 01/10/05 High level controls
        HC-1.5 01/10/05 New SPV requirements
        HC-3.1 – HC-3.2 01/10/05 Revised compliance function requirements
        HC-1.5.3, HC-1.5.5, & HC-4.1 01/01/06 Revised notification requirements for SPVs and dealing staff
        HC-2, HC-3 and HC-4 01/07/06 Requirements relating to controllers moved to Module GR; Remaining requirements relating to 'fit and proper' re-drafted to ensure consistent terminology and procedures with other Rulebook Volumes (without changing the substance of the previous 'fit and proper' requirements); Requirements relating to dealers incorporated into the 'fit and proper' requirements.

    • Superseded Requirements

      • HC-A.3.3

        Prior to the development of this Rulebook, the BMA issued various circulars covering different aspects of corporate governance. These circulars were consolidated into the first version of this Module as shown below:

        Circular Ref. Date of Issue Module Ref.
        (July 2004 version)        		 Circular Subject
        BC/23/99 8 Nov 1999 HC-1 'Enhancing Corporate Governance in Banking Organisations'
        BC/904/95 24 Jul 1995 HC-1.6 Notification to, and approval from the Agency for certain matters
        ODG/329/03 10 Sep 2003 HC-1.6 Corporate Governance Reporting
        BC/11/98 27 Jul 1998 HC-2 Terms and Definitions Applying to the Management of Banks and Financial Institutions
        BC/8/00 24 May 2000 HC-2 Controllers of, and holdings and transfers of significant ownership or controlling interests in, Agency licensees
        BC/13/99 15 Jun 1999 HC-3 Compliance, Risk Management and Internal Controls
        BMA/1287/94 6 Nov 1994 HC-4 Foreign Exchange, Securities and Other Dealers

      • HC-A.3.4

        The contents in this Module are effective from the dates depicted in HC-A.3.2 and HC-A.3.3, from which the requirements are compiled. Section HC-1.3 is effective from January 2007.