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GR-4.1.1

Licensees must obtain prior approval from the CBB for any of the following changes to their controllers (as defined in Section GR-4.2 and subject to the limits as outlined in GR-4.3):

(a) A new controller;
(b) An existing controller increasing its holding from below 20% to above 20% of issued and paid up share capital;
(c) An existing controller increasing its holding from below 50% to above 50% of issued and paid up share capital; or
(d) An existing controller reducing its holding from above 50% to below 50% of issued and paid up share capital.
January 2014