EN-10.3.1
Past version: Effective from 01 Oct 2007 to 30 Sep 2010
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Article 163 of the CBB Law provides for a term of imprisonment and/or a fine of up to BD 20,000, without prejudice to any other penalty prescribed in any other law, in case of conviction of a Director, manager, official, agent or representative of any licensee who:
(a) conceals any records, information or documents requested by the CBB (or any person appointed by the CBB to conduct an investigation or inspection);
(b) provides statements or information in bad faith which do not reflect the actual financial position of the Licensee;
(c) conceals from an external auditor any records, information or documents necessary for auditing the accounts of the Licensee ; and
(d) provides in bad faith any misleading or inaccurate statements to an external auditor which do not reflect the actual financial position of the Licensee.
Added: October 2007