AU-5.1.5
Past version: Effective from 01 Jul 2007 to 31 Dec 2007
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Unless otherwise directed by the CBB, the following documents must be provided in support of a Form 1:
(a) A duly completed Form 2 (Application for Authorisation of Controller) for each controller of the proposed licensee;
(b) A duly completed Form 3 (Application for Approved Person status), for each individual proposed to undertake controlled functions (as defined in Rule AU-1.2.2) in the proposed licensee ;
(c) A comprehensive business plan for the application, addressing the matters described in AU-5.1.6;
(d) For overseas companies, a copy of the company’s current commercial registration or equivalent documentation;
(e) Where the applicant is Bahraini company, a copy of the applicant's commercial registration certificate;
(f) A certified copy of a Board resolution of the applicant, confirming its decision to seek a CBB investment firm license ;
(h) In the case of applicants that are part of a regulated group, a letter of non-objection to the proposed license application from the applicant's lead supervisor , together with confirmation that the group is in good regulatory standing and is in compliance with applicable supervisory requirements, including those relating to capital requirements;
(i) In the case of branch applicants, a letter of non-objection to the proposed license application from the applicant's home supervisor, together with confirmation that the applicant is in good regulatory standing and the company concerned is in compliance with applicable supervisory requirements, including those relating to capital;
(j) In the case of branch applicants, copies of the audited financial statements of the applicant (head office) for the three years immediately prior to the date of application;
(k) In the case of applicants that are part of a group, copies of the audited financial statements of the applicant's group, for the three years immediately prior to the date of application;
(l) In the case of applicants not falling under either (j) or (k) above, copies of the audited financial statements of the applicant’s major shareholder (where they are a legal person), for the three years immediately prior to the date of application;
(m) In the case of applicants seeking to raise part of their capital through a private placement, a draft of the relevant private placement memorandum, together with a formal, independent legal opinion that the memorandum comply with all applicable capital markets laws and regulations;
(n) A copy of the applicant’s memorandum and articles of association (in draft form for applicants creating a new company) addressing the matters described in AU-5.1.8;
(o) In the case of branch applicants, an acceptably worded letter of guarantee from the applicant’s head office, confirming responsibility for all of the liabilities of the proposed branch, together with evidence of the power to give such a guarantee; and
(p) In the case of applicants not falling under (o) above, an acceptably worded letter of guarantee from the applicant’s major shareholder, confirming its willingness to support the proposed licensee in case of need.
Amended: July 2007