Obligation to Maintain Adequate Capital
CA-1.1.1
In accordance with Principle of Business 9 (Section PB-1.1.9),
licensees must maintain adequate human, financial and other resources sufficient to run their business in an orderly manner.October 2010CA-1.1.2
Licensees are required to maintain, at all times, the minimum capital requirement specified in Section CA-1.2.October 2010CA-1.1.3
In addition to the minimum capital requirements specified in Section CA-1.2 onwards, the CBB may, at its discretion, require
licensees to hold additional capital, should this be necessary (in the CBB's view) to meet additional liquidity requirements. (refer to CA-1.5.2)October 2010CA-1.1.4
No funds may be withdrawn by shareholders from the
licensee without the necessary prior written approval of the CBB.October 2010CA-1.1.5
In the event that a
licensee fails to meet any of the requirements specified in this Module, it must, on becoming aware that it has breached these requirements, immediately notify the CBB in writing. Unless otherwise directed, thelicensee must in addition submit to the CBB, within 30 calendar days of its notification, a plan demonstrating how it will achieve compliance with these requirements.October 2010CA-1.1.6
Should a
licensee fail to comply with the requirements of this Module, the CBB may impose enforcement measures, as described in Module EN.October 2010
