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BR-2.3.7

Past version: Effective up to 30 Jun 2007
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In accordance with Section GR-5.1, an insurance licensee must seek BMA 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 or decreasing a type of control which he already has so that the percentage of shares or voting power concerned becomes or ceases to be equal to or greater than 20 or 50; or
(d) an existing controller becoming or ceasing to be a parent undertaking.