GR-5.1 GR-5.1 Key Provisions
GR-5.1.1
Condition 3 of the CBB's licensing conditions specifies, amongst other things, that
licensees must satisfy the CBB that theirclose links do not prevent the effective supervision of thelicensee and otherwise pose no undue risks to thelicensee . (See Paragraph AU-2.3.1).January 2013GR-5.1.2
Applicants for a
license must provide details of theirclose links , as provided for under Form 1 (Application for a License). (See Paragraph AU-4.1.1).January 2013GR-5.1.3
Licensees must submit to the CBB, within 3 months of their financial year-end, a report on theirclose links (See Subparagraph BR-1.1.2(g)). The report must identify all undertakings closely linked to thelicensee , as defined in Section GR-5.2.January 2013GR-5.1.4
Licensees may satisfy the requirement in Paragraph GR-5.1.3 by submitting a corporate structure chart, identifying all undertakings closely linked to thelicensee .January 2013GR-5.1.5
Licensees must provide information on undertakings with which they are closely linked, as requested by the CBB.January 2013