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  • Voluntary Surrender

    • CSD-1.3.1

      A clearing house or central depository which intends to cease operating must apply to the CBB to surrender its license.

    • CSD-1.3.2

      Any objections received from any user, member or depository participant of the clearing house or central depository shall be considered by the CBB prior to issuing its consent for the surrender of license or cessation of business of the licensee.

    • CSD-1.3.3

      The CBB may, subject to paragraph CSD-1.3.2, cancel the license if it is satisfied that the licensed clearing house or licensed central depository has ceased operating and that there are no pending obligations of the licensed clearing house or licensed central depository or contracts traded.

      Amended: July 2016
      Amended: April 2016

    • CSD-1.3.4

      The licensed clearing house or licensed central depository shall publish a notice of its intention to cease to operate its market in 2 daily newspapers, one in Arabic and the other in English, in Bahrain.

      Amended: April 2016

    • CSD-1.3.5

      The notice referred to in rule CSD-1.3.4 shall be subject to the approval of the CBB and shall be published at least 60 days prior to the cessation taking effect.