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CRA-14.8.1

Past version: Effective from 01 Apr 2019 to 31 Mar 2023
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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.
Added: April 2019