Licensing of Members
MIR-2.2.18
The CBB shall decide on the application within 60 days from the date of receiving the application, complete with all the required information and documents.
Amended: April 2013
Adopted January 2010MIR-2.2.19
The CBB may grant an in principle confirmation which does not amount to a license nor commit the CBB to issuing a license within 30 days from the date of the application, following which the applicant may take steps for employment of personnel to the company at his own risk.
Amended: April 2013
Adopted January 2010MIR-2.2.20
The
member shall not undertake anyregulated activities before the CBB grants the license to the applicant.Amended: April 2013
Adopted January 2010MIR-2.2.21
The CBB may license a
person as a licensedmember , subject to such conditions or restrictions as the CBB may think fit to impose by notice in writing, including conditions or restrictions relating to:(a) Theregulated activities that theperson may undertake;(b) Thesecurities or futures contracts or any other products or instruments that a member may undertake; and(c) The class or group of investors and location.Amended: April 2013
Adopted January 2010MIR-2.2.22
The CBB may, at any time, in consultation with the
licensed exchange and/orlicensed clearing house by notice in writing to theperson , vary any condition or restriction or impose such further condition or restriction as it may think fit.Amended: April 2013
Adopted January 2010MIR-2.2.23
A licensed
member shall, for the duration of the license, satisfy all conditions and restrictions that may be imposed on it.Amended: April 2013
Adopted January 2010MIR-2.2.24
Where the CBB rejects an application, the decision and any appeal by the applicant shall be governed by Article 46 of the CBB Law.
Amended: April 2013
Adopted January 2010
