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C4-1.2.17

In accordance with Article 50 of the CBB Law, category 4 investment firms wishing to cancel their license or cease activities must obtain the CBB’s written approval, before ceasing their activities. All such requests must be made in writing and include the following in support of the request:

(a) Full details of the business to be terminated;
(b) The rationale for the cessation;
(c) How the licensee proposes to cease business;
(d) Evidence that the proposed cessation has been duly authorised by the licensee (such as a certified copy of a Board resolution approving the cessation); and
(e) If applicable, an assessment of the impact of the cessation on the licensee’s remaining business and customers, and any mitigating factors or measures.
Added: January 2022