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EN-6.1.1

Past version: Effective from 01 Oct 2010 to 31 Mar 2019
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Article 136 of the CBB Law empowers (but does not oblige) the CBB to assume the administration of a licensee in certain circumstances. These circumstances are outlined in the above Article and may include the following:

(a) The licensee has become insolvent;
(b) Its solvency is in jeopardy;
(c) Its continued activity is detrimental to the financial services industry in the Kingdom; or
(d) Its license has been cancelled.
October 2010