The CBB may license a person as a member if:

(a) The CBB is satisfied that the undertaking of regulated activities by the person will;
1. Develop the capital market and enhance confidence therein;
2. Develop the securities businesses or services and enhance the market liquidity; and
3. Protect the interests of investors or users of the SRO (licensed exchange and/or licensed clearing house) and enhance the Kingdom's credibility as an international financial centre; and
(b) The CBB is satisfied that the person, having applied to be a member under this Module, is able to comply with the obligations and requirements imposed on such member.
Adopted January 2010