CP-1.2 CP-1.2 Convening of the Board
CP-1.2.1
The Board should be convened and ready to carry out its duties in the case of:
(a) a forced liquidation carried out pursuant to the BMA Law, no later than 7 days after the Agency has applied to the Minister of Finance and National Economy, under the provisions of Article 99 of the BMA Law, for his approval for an application to be made to the Bahrain courts for an insolvent banking firm (herein referred to as the 'relevant bank') in accordance with Article 100 of the pre-mentioned Law, or(b) the liquidation of a relevant bank in any other case, no later than 7 days after the Agency is informed that a relevant bank is to be wound up.
