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  • TC-B TC-B Scope of Application

    • TC-B.1 TC-B.1 Scope of Application

      • TC-B.1.1

        This Module applies to all Money Changer licensees authorised in the Kingdom, thereafter referred to in this Module as licensees.

        October 2010

      • TC-B.1.2

        Persons authorised by the CBB as approved persons prior to the issuance of Module TC need not reapply for authorisation.

        October 2010

      • TC-B.1.3

        The requirements of this Module apply to approved persons holding controlled functions:

        (a) Who are employed or appointed by the licensees in connection with the licensees' regulated activities, whether under a contract of service or for services or otherwise; or
        (b)Whose services, under an arrangement between the licensee and a third party, are placed at the disposal and under the control of the licensee.
        October 2010

      • TC-B.1.4

        Licensees must satisfy the CBB that individuals performing a controlled function for it or on its behalf are suitable and competent to carry out that controlled function.

        October 2010

      • TC-B.1.5

        In implementing this Module, licensees must ensure that:

        (a) Individuals recruited by the licensees to perform a controlled function hold suitable qualifications and experience appropriate to the nature of the business;
        (b)Individuals performing a controlled function remain competent for the work they do; and
        (c) Individuals performing a controlled function are appropriately supervised.
        October 2010