The CBB may revoke any exemption granted to a person on any of the following grounds without giving the person an opportunity to be heard:

(a) The person is in the course of being wound up or otherwise dissolved, whether in Bahrain or elsewhere;
(b) A receiver, a receiver and manager or an equivalent person has been appointed, whether in Bahrain or elsewhere, in relation to, or in respect of any property of the person; or
(c) The person has been convicted, whether in Bahrain or elsewhere, of an offence involving fraud and dishonesty or the conviction for which involved a finding that it had acted fraudulently or dishonestly.