HC-1.3 HC-1.3 Meetings and Attendance[versions up to January 2011]
HC-1.3.1 [versions up to January 2011]
The Board must meet sufficiently often to enable it to discharge its responsibilities effectively, taking into account the
insurance licensee's scale and complexity.HC-1.3.2 [versions up to January 2011]
The CBB expects that the scale and complexity of most licensees will require meetings to be held at least quarterly (as required by the Companies Law 2001). For the largest, most complex licensees, more frequent Board meetings may be more appropriate.
Amended: January 2007HC-1.3.3 [versions up to January 2011]
Board members must attend at least three-quarters of all Board meetings held during any twelve-month period in person. Board rules must require members to step down if they are not actively participating in Board meetings.
HC-1.3.4 [versions up to January 2011]
The CBB expects Board members who fail to attend at least three-quarters of all Board meetings in any twelve-month period to step down, unless the Board is able to satisfy the CBB that there are valid reasons for the
Director concerned to remain a Board member.Amended: January 2007HC-1.3.5 [versions up to January 2011]
At least half the Board meetings of
Bahraini insurance licensees in any twelve-month period must be held in the Kingdom of Bahrain.HC-1.3.6 [versions up to January 2011]
The Board must be supplied in a timely manner with information in a form and of a quality appropriate to enable it to discharge its duties. The Board must also maintain adequate records of its meetings, such that key decisions and how they are arrived at can be traced.
