AU-A.2.3
Past version: Effective from 01 Jul 2008 to 30 Sep 2008
To view other versions open the versions tab on the right
A list of recent changes made to this Module is provided below:
| Module Ref. | Change Date | Description of Changes |
| AU-1.1 | 01/07/05 | Corrections made to cross references. |
| AU-1.2 | 01/07/05 | Correction to typo and clarification to AU-1.2.4. |
| AU-1.4 | 01/07/05 | Clarified possible exclusion to regulated insurance services. |
| AU-5.1 | 01/07/05 | Clarified AU-5.1.2 and amended AU-5.1.8(e) to reflect that the cash deposit to be held with a commercial bank also applies to insurance brokers. |
| AU-5.2 | 01/07/05 | Correction made to cross reference. |
| AU-5.3 | 01/07/05 | Corrected reference to Form 4 (Application for Registration). |
| AU-1.1 | 01/10/05 | Clarified application of grandfathering provisions for composite companies. |
| AU-2.1 | 01/10/05 | Clarified legal status for E.C. companies and added the option for insurance manager to operate as a branch resident in Bahrain of a company incorporated in another jurisdiction. |
| AU-2.2 | 01/10/05 | Clarified guidance on mind and management for insurance licensees originally licensed as exempt companies. |
| AU-2.8 | 01/10/05 | Clarified the application of IFRS and AAOIFI standards. |
| AU-2.1 | 01/01/06 | Clarified legal status for EC companies that are insurance brokers and insurance consultants. |
| AU-2.1.6 | 01/04/06 | Guidance Paragraph deleted in October 2005. |
| AU-1.2.2 | 01/01/07 | Added Signing Actuary (where the Signing Actuary is an employee of the insurance firm) to the list of controlled functions for which an application for approved person must be submitted. |
| AU-A.1.13 | 01/2007 | New Rule introduced, categorising this Module as a Directive. |
| AU-1.1.24 | 01/2007 | Added Rule pertaining to suitability of applicants for authorisation. |
| AU-2.1.11 | 01/2007 | Corrected legal status requirements for insurance consultants. |
| AU-2.6.1A | 01/2007 | Added a Rule dealing with the segregation of staff responsibilities. |
| AU-5.1. | 01/2007 | Section amended to reflect new procedures reflecting CBB Law. |
| AU-5.4 | 01/2007 | Amended to reflect new CBB Law procedures. |
| AU-5.5 | 01/2007 | Amended to reflect new CBB Law procedures. |
| AU-6 | 01/2007 | New Chapter on Licensing and Registration Fees added. |
| AU-1.1.14 | 10/2007 |
Pure reinsurers can undertake both |
| AU-1.2.3 and 1.2.4 | 10/2007 | Clarified the controlled functions for which CBB prior approval is required. |
| AU-2.5.4 | 10/2007 |
Clarified that |
| AU-5.1.5 and 5.1.5A | 01/2008 | Clarified CBB's requirements for letters of comfort and/or letters of guarantee. |
| AU-5.1.13 | 01/2008 | Clarified CBB's requirements for items that must be in place within 6 months of a new license being issued. |
| AU-5.2.2 | 04/2008 | Clarified to whom Form 3 should be sent to if dealing with a request for an appointment of MLRO from an existing investment firm licensee. |
| AU-5.5.6 | 04/2008 | Outlined CBB's requirements in instances where a controlled function becomes vacant. |
| AU-6.3 | 04/2008 | Clarified the payment of annual fees for new insurance licensees and registered persons. |
| AU-5.2.5 | 07/2008 | Clarified that the refusal decision by the CBB to grant a person 'approved person' status is issued to the insurance licensee. |
| AU-5.2.6 | 07/2008 | Added cross reference. |