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  • HC-2.3 HC-2.3 Disclosure of Conflicts of Interest

    • HC-2.3.1

      Each approved person must inform the entire Board of conflicts of interest as they arise. Board members must abstain from voting on the matter in accordance with the relevant provisions of the Company Law. This disclosure must include all material facts in the case of a contract or transaction involving the approved person. The approved persons must understand that any approval of a conflict transaction is effective only if all material facts are known to the authorising persons and the conflicted person did not participate in the decision.

      Amended: April 2016
      October 2010

    • HC-2.3.2

      Board members must declare annually in writing all of their interests (and those of their family) in other enterprises or activities (whether as a Director, shareholder, senior executive or other form of participation) to the Board (or appropriate Board sub-Committee).

      Amended: April 2016
      October 2010

    • HC-2.3.3

      Bahraini licensees must have in place a board approved policy on the employment of relatives of approved persons and a summary of such policy must be disclosed in the annual report of the Bahraini licensee.

      Amended: July 2016
      Amended: April 2016
      October 2010

    • HC-2.3.4

      Overseas licensees must have in place a policy on the employment of relatives of approved persons pertaining to their Bahrain operations.

      Added: July 2016