MIR-2.4.1
Past version: Effective from 15 Dec 2009 to 31 Mar 2013
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The CBB may revoke any exemption granted to a
(a) The person does not commence undertaking its regulated activities , licensed for within 6 months from the date on which it was granted the exemption;
(b) The person ceases to carry on its regulated activities ; or,
(c) The person contravenes:-
1. any provision of the CBB Law, rules or regulations;
2. any condition or restriction relating to the exemption;
3. any direction issued to it by the CBB;
4. any business rules of the SRO (licensed exchange and/or licensed clearing house ) as the case may be; or
(d) The CBB is of the opinion that the person has conducted regulated activities in a manner that is contrary to the market integrity and 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 member ; or
(i) Any document or information submitted by the person to the CBB that is false or misleading.
Adopted January 2010