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  • CP-1.2 CP-1.2 Convening of the Board

    • CP-1.2.1

      The Board must be convened and must commence its responsibilities by following the compensation process for the Eligible account holders upon:

      (a) Any Islamic retail bank licensee being put under administration by the CBB; or
      (b) Any Islamic retail bank licensee being put into liquidation.

      In each case, such bank hereinafter referred to as a "defaulting bank".

      October 2012