PD-1.1.2
Past version: Effective from 01 Oct 2007 to 31 Mar 2008
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For the purpose of this Module, the following definitions apply:
(a) 'Director ' includes any person who occupies the position of a Director and any person who appears to the Central Bank to be a Director (howsoever called) of the applicant/licensed locally incorporated bank and its subsidiaries;
(b) 'Chief Executive/General Manager' means a person who is responsible under the immediate authority of the Director s for the conduct of the applicant/licensed locally incorporated bank, including its subsidiaries and overseas branches , and Bahrain branches of foreign banks;
(c) 'Manager' means a person who, under the immediate authority of a Director or the chief executive/general manager, exercises major managerial functions or is responsible for maintaining accounts or other records of the applicant/licensed bank; and
(d) 'Interest in the shares' shall include, but not be limited to, direct and/or indirect ownership of such shares, the right of voting associated with such shares, the right to receive dividends payable on such shares, and/or any right, regardless of the form thereof, to purchase (or otherwise acquire an interest in) such shares at any time.
October 07