The CBB may approve an application made under Paragraph MIR-5.2.1 if the CBB is satisfied that:

(a) The applicant is a fit and proper person to be a substantial shareholder;
(b) Having regard to the applicant's likely influence, the licensed member will or will continue to conduct its business prudently and in compliance with the provisions of the CBB Law, rules and regulations, and this Module; and
(c) It would not be contrary to the interests of the public and market integrity to do so.
Amended: April 2013
Adopted January 2010