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  • AU-B.1 AU-B.1 The Public

    • AU-B.1.1

      The Authorisation requirements in Chapter AU-1 are generally applicable to the public, in that they prevent a person (whether legal or natural) from undertaking certain specified activities if they do not hold the appropriate authorisation from the CBB or marketing any financial services unless specifically allowed to do so by the CBB (see Rule AU-1.1.1). In addition, those applying for authorisation are also required to comply with the relevant requirements and procedures contained in this Module.

      Amended: January 2013
      Amended: July 2007

    • AU-B.1.2

      Three types of authorisation are prescribed:

      (i) Any person who provides a regulated insurance service within or from the Kingdom of Bahrain requires a license (see AU-1.1);
      (ii) Natural persons wishing to perform a controlled function in an insurance licensee require prior CBB approval, as an approved person (see AU-1.2); and
      (iii) Any person wishing to provide actuarial or loss adjuster services within the Kingdom of Bahrain is required to register with the CBB (see AU-1.3).
      Amended: July 2007

    • AU-B.1.3

      Because of the general applicability of many of the requirements contained in this Module, they are supported by way of a Regulation (see Section UG-1.1 for an explanation of the CBB’s rule-making powers and different regulatory instruments).

      Added: July 2007