MAE-1.5.1

The CBB may revoke any exemption granted to a person under MAE-1.4.3 if:

(a) The person does not commence operating its market or, where it operates more than one market, all of its markets, within 6 months from the date on which it was granted the exemption;
(b) The person ceases to operate its market or, where it operates more than one market, all of its markets;
(c) The person contravenes:-
(i) Any condition or restriction relating to the exemption;
(ii) Any direction issued to it by the CBB; or
(iii) Any provision of the CBB Law or Regulations;
(d) The CBB is of the opinion that the person has operated in a manner that is contrary to the interests of the public;
(e) The person is in the course of being wound up or otherwise dissolved, whether in Bahrain or elsewhere;
(f) A receiver, a receiver and manager or an equivalent person has been appointed, whether in Bahrain or elsewhere, in relation to, or in respect of, any property of the person;
(g) The person has been convicted, whether in Bahrain or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that it had acted fraudulently or dishonestly;
(h) The CBB is of the opinion that the person would be more appropriately regulated as a licensed exchange or a licensed market operator; or
(i) Any information or document provided by the person to the CBB is false or misleading.
Amended: April 2013