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  • Write-offs

    • BR-2.3.11

      Licensees must obtain the CBB's prior written approval before writing off any of the following exposures:

      (a) To any present or former director of the licensee;
      (b) Which are guaranteed by a director of the licensee;
      (c) To any business entity for which the licensee or any of its directors is an agent;
      (d) To any officer or employee of the licensee, or any other person who receives remuneration from the licensee;
      (e) To any business entity in which the licensee (or any of its directors, officers or other persons receiving remuneration from the licensee) has a material interest as a shareholder (i.e., 5% or more), or as a director, manager, agent or guarantor; and
      (f) To any person who is a director, manager or officer of another licensee of the CBB.
      January 2014