MIR-5.2.1

Any person applying for approval under rule MIR-5.1.1 shall submit to the CBB a written application that sets out:

(a) The name of the applicant;
(b) In the case where the applicant is a company:
1. Its place of incorporation;
2. Its substantial shareholders;
3. Its directors and chief executive officer; and
4. Its principal business.
(c) In the case where the applicant is a natural person:
1. His nationality;
2. His principal occupation; and
3. His directorships;
(d) All the companies in Bahrain or elsewhere, which the applicant has a substantial shareholding;
(e) The percentage of shareholding and voting power that the applicant has in the licensed member and/or in any other licensed members;
(f) The percentage of shareholding and voting power the applicant is seeking to have in the licensed member;
(g) The reasons for making the application;
(h) The mode and structure, as appropriate, under which the increase in shareholding would be carried out;
(i) Whether the applicant will seek representation on the board of directors of the licensed member; and
(j) Any other information that may facilitate the determination of the CBB as to whether the applicant is a fit and proper person for the purposes of paragraph MIR-5.2.3 (a).
Amended: April 2013
Adopted January 2010