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FC-4.1.8

If the position of MLRO falls vacant, the conventional bank licensee must appoint a permanent replacement (after obtaining BMA approval), within 120 calendar days of the vacancy occurring. Pending the appointment of a permanent replacement, the licensee must make immediate interim arrangements (including the appointment of an acting MLRO) to ensure continuity in the MLRO function's performance. These interim arrangements must be approved by the BMA.