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  • AU-1.2 AU-1.2 Approved Person

    • General Requirement

      • AU-1.2.1

        Representative office licensees must appoint a person to undertake the function of representative office manager "Rep Manager". As mentioned in Paragraph AU-A.1.2, a person wishing to undertake a controlled function in a representative office licensee must be approved by the CBB prior to his/her appointment. Controlled function means in this case the Rep Manager. In the case of representative office licensees, the Rep Manager is considered the approved person.

        December 2010

    • Basis for Approval

      • AU-1.2.2

        Approval under Paragraph AU-1.2.1 is only granted by the CBB, if it is satisfied that the person is fit and proper to hold the particular position in the licensee concerned. 'Fit and proper' is determined by the CBB on a case-by-case basis. The definition of 'fit and proper' and associated guidance is provided in Sections AU-3.1 and AU-3.2 respectively.

        December 2010

    • Definitions

      • AU-1.2.3

        The representative office manager (or "Rep Manager") means a person who is responsible for the conduct of the licensee (regardless of actual title). The Rep Manager must be resident in Bahrain.

        December 2010