EN-5.3A.3

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Oct 01 2012 - Mar 31 2017
Apr 01 2017

Financial penalties related to late filing or other date sensitive requirements are calculated as per the following per diem basis:

(a) Where the financing companylicensee's total consolidated assets are less than or equal to BD 50 million, the financial penalty for late filing is BD 100 per day;

(b) Where the financing companylicensee's total consolidated assets are greater than BD 50 million but less than or equal to BD 250 million, the financial penalty for late filing is BD 200 per day;

(c) Where the financing companylicensee's total consolidated assets are greater than BD 250 million, the financial penalty is BD 400 per day;

(e) For new financing companylicensees who have yet to provide audited financial statements, the financial penalty is BD 100 per day;

(f) For all Volume 5 specialised licensees, other than financing companylicensees, the financial penalty under this Section is BD 40 per day.

Amended: April 2017
Added: October 2012