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  • TC-B TC-B Scope of Application

    • TC-B.1 TC-B.1 Scope

      • TC-B.1.1

        This Module applies to all financing company licensees authorised in the Kingdom, thereafter referred to in this Module as licensees. It covers the training and competency requirements for staff occupying controlled functions (See Chapter TC-1).

        January 2014

      • TC-B.1.2

        Persons authorised by the CBB as approved persons prior to the issuance of Module TC need not reapply for authorisation.

        January 2014

      • TC-B.1.3

        The requirements of this Module apply to approved persons holding controlled functions, including board members, in connection with the licensee's regulated financing company services, or under a contract of service.

        Amended: July 2014
        January 2014

      • TC-B.1.4

        In the case of outsourcing arrangements, the licensee should refer to the competency requirements, outlined in Appendix TC-1 for controlled functions, for assessing the suitability of the outsourcing provider.

        January 2014

      • TC-B.1.5

        Licensees must satisfy the CBB that individuals performing a controlled function for it or on its behalf are suitable and competent to carry on that controlled function.

        January 2014

      • TC-B.1.6

        In implementing this Module, licensees must ensure that individuals recruited to perform controlled functions:

        (a) Hold suitable qualifications and experience appropriate to the nature of the business;
        (b) Remain competent for the work they do; and
        (c) Are appropriately supervised.
        January 2014