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  • PD-1.1 PD-1.1 Introduction

    • PD-1.1.1

      The purpose of the contents of this chapter is to set out the Agency's requirements relating to the disclosure of information in the bank's annual audited financial statements ('Annual Report'). This chapter also refers to the Bahrain Commercial Companies Law of 2001 (as amended) and the Bahrain Stock Exchange regulations relating to public disclosure and reporting requirements.

    • PD-1.1.2

      For the purpose of this module, the following definitions apply:

      (a) 'Director' includes any person who occupies the position of a Director and any person who appears to the Agency to be a Director (howsoever called) of the applicant/licensed locally incorporated banks and its subsidiaries;
      (b) 'Chief Executive/General Manager' means a person who is responsible under the immediate authority of the Directors for the conduct of the applicant/licensed locally incorporated bank, including its subsidiaries and overseas branches, and Bahrain branches of foreign banks;
      (c) 'Manager' means a person who, under the immediate authority of a Director or the chief executive/general manager, exercises major managerial function(s) or is responsible for maintaining accounts or other records of the applicant/licensed bank; and
      (d) 'Interest in the shares' shall include, but not be limited to, direct and/or indirect ownership of such shares, the right of voting associated with such shares, the right to receive dividends payable on such shares, and/or any right, regardless of the form thereof, to purchase (or otherwise acquire an interest in) such shares at any time.