The CBB may direct a licensed clearing house or licensed central depository to remove an officer from his office or employment under rule CSD-6.4.1 on any of the following grounds, without giving the licensed clearing house or licensed central depository an opportunity to be heard:
(a) The officer is an undischarged bankrupt, whether in Bahrain or elsewhere;
(b) The officer has been convicted, whether in Bahrain or elsewhere, of an offence:
(i) Involving fraud or dishonesty, or the conviction for which involved a finding that he had acted fraudulently or dishonestly; or
(ii) Punishable with imprisonment for a term of 3 months or more.
Amended: April 2016