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BR-2.3.7

In accordance with Section GR-5.1, a Bahraini insurance licensee must seek CBB approval and give reasonable advance notice of any of the following events concerning the insurance licensee:

(a) A person acquiring control or ceasing to have control;
(b) An existing controller acquiring an additional type of control (such as ownership or significant influence) or ceasing to have a type of control;
(c) An existing controller increasing his or her percentage in the issued or paid up capital or voting power beyond 10%, 20%, 30% or 40%; and
(d) An existing controller becoming or ceasing to be a parent undertaking.
Amended: October 2015
Amended: January 2007