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  • 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