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  • Authorisation of a Subsidiary

    • AU-4.2.5

      Licensees wishing to establish or acquire a new subsidiary undertaking must submit to the CBB the following information as part of their request:

      (a) Proposed name of subsidiary;
      (b) Country of incorporation;
      (c) Legal structure;
      (d) Proposed issued capital;
      (e) Proposed shareholding structure;
      (f) Purpose of establishing or acquiring the subsidiary;
      (g) Draft incorporation documents of the subsidiary;
      (h) Board resolution approving the establishment or acquisition of the subsidiary; and
      (i) Any other information or documentation requested by the CBB.
      Added: April 2011

    • AU-4.2.6

      Licensees should ensure adherence with Rules contained in Chapter CA-1 and in particular with the leverage and liquidity requirements contained in Section CA-1.5 when considering the impact of a subsidiary on capital requirements.

      Added: April 2011