The CBB may cancel a license that was granted to a member on any of the following grounds without giving an opportunity to be heard:

(a) The member 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 member;
(c) The member has been convicted, whether in Bahrain or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that it had acted fraudulently or dishonestly; and
(d) The implementation of a decision or an appeal of the Disciplinary Committee resolution, whether in Bahrain or elsewhere, for the cancellation of membership of the member.
Adopted January 2010