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  • EN-5.1 EN-5.1 Requirements for Individuals

    • EN-5.1.1

      Article 65 of the CBB Law, allows the CBB to determine the level of qualifications, experience, and training of a bank's board, officers or employees.

      Added: October 2007

    • EN-5.1.2

      In addition, Chapter LR-1A 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 CBB as "fit and proper" to hold such a position. The Chapter specifies various factors that the CBB takes into account when reaching such a decision.

      Amended: October 2010
      Added: October 2007

    • EN-5.1.3

      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.

      Added: October 2007

    • EN-5.1.4

      In interpreting the term "manager", the CBB uses the definition given in Chapter LR-1A. 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.

      Amended: October 2010
      Added: October 2007