A licensed exchange or licensed market operator incorporated in the Kingdom shall not perform any of the following without a prior written approval of the CBB:

(a) Merge, amalgamate or enter into a partnership with any person outside the Kingdom, except in the ordinary course of business;
(b) Transfer all or a major part of its assets or liabilities inside or outside the Kingdom, without prejudice to the provisions of Chapter 6 of the CBB Law;
(c) Make any modification to its issued or paid-up share capital;
(d) Modify its Memorandum and Articles of Association; or
(e) Engage in major acquisition or investment operations as determined by the CBB.
Amended: April 2016