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  • HC-A.2 HC-A.2 Module History[versions up to January 2011]

    • HC-A.2.1 [versions up to January 2011]

      This Module was first issued in April 2005 by the BMA together with the rest of Volume 3 (Insurance). Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

      Amended: January 2007

    • HC-A.2.2 [versions up to January 2011]

      When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 3 was updated in January 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to the actual requirements.

      Added: January 2007

    • HC-A.2.3 [versions up to January 2011]

      A list of recent changes made to this Module is detailed in the table below:

      Module Ref. Change Date Description of Changes
      HC-1.1 01/07/05 Clarification of Board approval required.
      HC-2.2 01/10/05 Corrected numbering of Paragraph.
      HC-4.1 01/10/05 Reordered Paragraphs for better flow of rules.
      HC-A.1.3 01/2007 New Rule introduced, categorizing this Module as a Directive.
      HC-B.1.2 01/2007 Clarified that overseas insurance licensees must also comply with the provisions of Paragraph HC-3.4.3 (compliance officer).
      HC-1.2.3 and 1.2.6 01/2007 Clarified rules for Board composition for Bahraini insurance licensees, other than insurance firms.
      HC-1.2.15 07/2008 Clarified board composition.
      HC-1.2.16 07/2008 Added a new Paragraph dealing with limits on number of directorships held.
      HC-3.1.2A 04/2010 Added requirements for Managing Director.
      HC-3.4.4 04/2010 Clarified that the compliance function may not be combined with the internal audit function or any operational function as they are incompatible and may create a conflict of interest.

    • HC-A.2.3 [Deleted][versions up to January 2011]

      Deleted: January 2007

    • HC-A.2.4 [versions up to January 2011]

      Guidance on the implementation and transition to Volume 3 (Insurance) is given in Module ES (Executive Summary).