Publication of the Transfer of Business Application
GR-4.2.4
In instances where the CBB is in favor of the transfer requested, and in accordance with Article 66(c) of the CBB Law, the transfer of business application will be published by the CBB in the Official Gazette and in two daily newspapers in the Kingdom of Bahrain (one in Arabic and one in English). The CBB notice will include a statement that written representations concerning the transfer of business application may be sent to the CBB within three months from the date of publication.
Added: October 2012GR-4.2.5
If the liabilities are located in a jurisdiction outside Bahrain, the CBB may also publish such notice in the jurisdiction in which the risk is situated.
Added: October 2012GR-4.2.6
In all cases, the costs of publication of the notices referred to in Paragraphs GR-4.2.5 and GR-4.2.6 must be met by the
transferor .Added: October 2012
