EN-8.1.1
Past version: Effective from 01 Oct 2010 to 31 Mar 2019
To view other versions open the versions tab on the right
Article 136 of the CBB Law empowers (but does not oblige) the CBB to assume the administration of a licensee in certain circumstances. These circumstances are outlined in the above Article and may include the following:
(a) The licensee has become insolvent;
(b) Its solvency is in jeopardy;
(c) Its continued activity is detrimental the financial services industry in the Kingdom; or
(d) Its license has been cancelled.
Amended: October 2010
Added: October 2007
Added: October 2007