PD-1.1.2

Location:

Versions

Past version: Effective from 01 Apr 2008 to 30 Sep 2010
To view other versions open the versions tab on the right

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 Directors for the conduct of the applicant/licensed locally incorporated bank, including its subsidiaries and overseas branches, or 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;

(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;

(e) 'Audited financial statements' refers to the financial statements required under International Financial Reporting Standards.

(f) 'Annual Report' refers to the document which contains the full audited financial statements and accompanying notes as well as any accompanying commentary by the senior officials of the bank.

April 2008