This Module contains the CBB's Directive (as amended from time to time) regarding authorisation under Volume 4 of the CBB Rulebook. It is applicable to all investment firm licensees (as well as to approved persons), and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). Requirements regarding the obligation to hold a license and the conditions for issuing such a license are also included in Regulations, to be issued by the CBB.