(a) Any objections received to the application to transfer the business following its publication in the Official Gazette and in two daily newspapers in the Kingdom of Bahrain (one in Arabic and one in English) as required under Article 66(d) have been reviewed and resolved by the CBB.

(b) Except in so far as the CBB has otherwise directed, a copy of the notice has been sent to every affected customer and every other person who claims an interest in an asset or liability included in the proposed transfer (and has given written notice of his claim to the transferor);

(c) Copies of a statement, approved by the CBB, setting out particulars of the transfer, have been available for inspection at one or more places in Bahrain for at least 30 days, from the date of publication of the notice specified in Paragraph GR-4.2.3; and

(d) Where the proposed transfer includes any contract where the risk is situated in a jurisdiction other than Bahrain, a statement, approved by the CBB, setting out particulars of the transfer, has been available for inspection at one or more places in that jurisdiction for at least 30 days, starting with the date of publication of the notice specified in Paragraph GR-4.2.3.

(a) The transferee is authorised to carry on regulated banking services in Bahrain or (where relevant) is authorised or otherwise permitted to carry on regulated banking services in the jurisdiction where any overseas risks are situated;

(b) Every transaction or account or relationship included in the transfer evidences a contract which was entered into before the date of the application;

(c) The transferee possesses the necessary solvency required by the regulatory authorities to which he is subject to, after taking the proposed transfer into account;

(d) Where transactions, accounts, or customer relationships are being transferred from an overseas branch of a bank licensee, or the transferee is a branch of foreign bank licensee, the relevant overseas regulatory authority has been consulted about the proposed transfer, the law of that jurisdiction provides for the possibility of such a transfer, and the relevant supervisory authority in that jurisdiction has agreed to the transfer;

(e) The transfer will not breach any applicable laws and regulations, and will not create any supervisory concerns;

(f) The business transferred is not prohibited by the CBB; and

(g) There are no material adverse consequences from the transfer on the transferee or the security of customers and creditors and their rights and obligations are protected.