GR-A.2.3
Past version: Effective from 01 Apr 2019 to 31 Dec 2019
To view other versions open the versions tab on the right
A list of recent changes made to this Module is detailed in the table below:
| Module Ref. | Change Date | Description of Changes |
| GR-B.1 | 01/07/05 | Clarified that GR-7 also applies to insurance brokers. |
| GR-7.1 | 01/07/05 | Corrected that cash deposit requirements also apply to insurance brokers and simplified the calculation of cash deposit required for insurance firms. |
| GR-1.2 | 01/10/05 | Clarified that transaction records must be maintained in Bahrain. |
| GR-4.4 | 01/10/05 | Corrected cross-reference. |
| GR-6.1 | 01/10/05 | Corrected references to Forms. |
| GR-10.1 | 01/10/05 | Clarified when evidence of professional indemnity coverage is to be provided and corrected cross-reference. |
| GR-7.1 | 01/01/06 | Clarified that insurance licensees originally licensed as exempt companies can opt to have their cash deposit maintained with the CBB. |
| GR-7.1.2 | 01/04/06 | Clarified that the requirement to maintain a cash deposit does not apply to insurance firms that are in run-off and whose license is restricted from entering into new contracts of insurance. |
| GR-10.1.7 | 01/04/06 | Clarified the meaning of the clause required dealing with an automatic extended reporting period. |
| GR-A.1.2 | 01/2007 | New Rule introduced, categorising this Module as a Directive. |
| GR-B.1.1 | 01/2007 | Clarified that Chapters GR-4 and GR-8 apply to all insurance licensees. |
| GR-1.1 | 01/2007 | Rule amended and Guidance added with respect to translation and archiving of books and records. |
| GR-2.1.1 | 01/2007 | Clarified the vetting of names for subsidiaries. |
| GR-4 | 01/2007 | This Chapter applies to all insurance licensees and was amended to be aligned with the requirements of the CBB Law. |
| GR-5.1 | 01/2007 | Minor changes to align controller requirements with the CBB Law. |
| GR-5.2 | 01/2007 | Clarification of definition of controller. |
| GR-5.3 | 01/2007 | Clarification of criteria for assessing suitability of controllers. |
| GR-5.4 | 01/2007 | Alignment of procedures for approving controllers with CBB Law. |
| GR-7.1.1 | 01/2007 | Reference to CBB Law on requirement for a cash deposit.. |
| GR-7.1.3 | 01/2007 | Paragraph deleted as now redundant since captive insurers are exempted from a cash deposit requirement as per GR-7.1.2. |
| GR-7.2.1 | 01/2007 | Rule deleted. |
| GR-8 | 01/2007 | This Chapter applies to all insurance licensees and was amended to be aligned with the requirements of the CBB Law. |
| GR-10.1.13 | 01/2007 | Clarified the format of the notice related to the professional indemnity coverage. |
| GR-1.2.1 and 1.2.5 | 10/2007 | Clarified the record retention period for customer and transaction records in line with Article 60 of the CBB Law. |
| GR-10.1.1A | 04/2008 | Added Guidance concerning limitations on indemnification coverage. |
| GR-3.1 | 04/2009 | Clarified the rules governing the request for CBB no-objection on any dividend proposed. |
| GR-A.1.2 | 10/2009 | Added the legal requirements as per Article 74 of the CBB Law. |
| GR-5.4.2 | 10/2009 | Guidance amended to be consistent with wording under Article 53(a) of the CBB Law. |
| GR-9 | 10/2009 | Incorporated the requirements of Resolution 11 as per Article 74 of the CBB Law. |
| GR-A.1.2 | 01/2011 | Clarified legal basis |
| GR-5.3 | 10/2011 | Amended to be in line with other Volumes of the CBB Rulebook and to reflect the issuance of Resolution No.(43) of 2011. |
| GR-8.1 | 10/2011 | Clarified language on cessation of business to be in line with other Volumes of the CBB Rulebook. |
| GR-B.1.1 | 04/2012 | Amended to reflect the deletion of certain Paragraphs in Section GR-1.2. |
| GR-1.2 | 04/2012 | Amendments made to reflect the issuance of Module CL (Client Money). |
| GR-6.1 | 04/2012 | Clarified that the reporting requirements for close links are only applicable to insurance firms and insurance brokers. |
| GR-2.2 | 10/2014 | New Section added regarding publication of documents by the licensee. |
| GR-A.1.2, GR-B.1.2 and GR-5 | 10/2015 | Updated to reflect issuance of Resolution No. (27) of 2015 governing control in insurance licensees. |
| GR-7.1 | 07/2016 | Amended requirements for cash deposit. |
| GR-8.1.14 | 10/2016 | Added additional requirements for cessation of business to be in line with all Volumes. |
| GR-5.1.5 | 01/2017 | Consistency of notification timeline rule on controllers with other Volumes of the CBB Rulebook. |
| GR-1.2.5 | 07/2017 | Amended paragraph according to the Legislative Decree No. (28) of 2002. |
| GR-1.2.6 | 07/2017 | Deleted paragraph. |
| GR-3.1.1A | 10/2017 | Added additional requirement to submit when requesting no-objection letter for proposed dividend. |
| GR-1.1.2 | 10/2018 | Amended Paragraph to be consistent with other Volumes. |
| GR-5.1.1A | 04/2019 | Added a new Paragraph on exposure to controllers. |
| GR-5.1.1B | 04/2019 | Added a new Paragraph on exposure to controllers. |