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  • 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 CBB Law, no later than 7 calendar days after the CBB has applied to the Minister of Finance, under the provisions of Article 143 of the CBB 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 144 and 145 of the pre-mentioned Law, or
      (b) The liquidation of a relevant bank in any other case, no later than 7 days after the CBB is informed that a relevant bank is to be wound up.
      Amended: January 2011
      October 07