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GR-10.1.7

Bahraini investment firm licensees wishing to establish or acquire a subsidiary undertaking must submit the following information to the CBB as part of the approval process referred to in Paragraph GR-10.1.1:

(a) Proposed name of subsidiary;
(b) Country of incorporation;
(c) Legal structure;
(d) Proposed paid-up capital;
(e) Proposed shareholding structure;
(f) Purpose of establishing or acquiring the subsidiary;
(g) Draft incorporation documents of the subsidiary;
(h) Board Resolution approving the establishment or acquisition of the subsidiary;
(i) Names of the board members of the proposed subsidiary and the relationship of the board member to the investment firm licensee;
(j) Names of the authorised signatories of the proposed subsidiary;
(k) An undertaking from the board of the investment firm licensee that the board will be held ultimately responsible for any misconduct or action committed by the proposed subsidiary; and
(l) Any other information or documentation as required by the CBB.
Amended: July 2013
Added: April 2011