Prior Approval Requirements and Process
Contents:
MIR-3.4.2
An application for approval for a person occupying a
controlled function under Paragraph MIR-3.1.2 must be made by submitting to the CBB a duly completed Form 3 (Application for Approved Person Status) and Curriculum Vitae after verifying that the information in the Form 3, including previous experience is accurate. Form 3 is available under Volume 6 Part B Authorisation Forms MIR Forms of the CBB Rulebook.Amended: April 2016
Amended: April 2013
Adopted January 2010MIR-3.4.3
When the request for
approved person status forms part of a license application, it must be marked for the attention of the Director, Licensing Directorate. When the submission to undertake acontrolled function is in relation to an existingmember , except if dealing with a MLRO, it must be marked for the attention of the Director, Capital Markets Supervision Directorate. In case of the MLRO, Form 3 must be marked for the attention of the Director, Compliance Directorate.Amended: April 2020
Amended: April 2016
Adopted January 2010MIR-3.4.3A
When submitting the Forms 3,
members must ensure that the Form 3 is:(a) Submitted to the CBB with a covering letter signed by an authorised representative of themember , seeking CBB approval;(b) Submitted in original form;(c) Submitted with a certified copy of the applicant's passport, original or certified copies of educational and professional qualification certificates (and translation if not in Arabic or English) and the Curriculum Vitae; and(d) Signed by an authorised representative of the member and all pages stamped with themember's seal.Added: April 2016MIR-3.4.4
Members seeking to appoint Board Directors must seek CBB approval for all the candidates to be put forward for election/approval at a shareholders' meeting, in advance of the agenda being issued to shareholders. CBB approval of the candidates does not in any way limit shareholders' rights to refuse those put forward for election/approval.Amended: April 2016
Adopted January 2010