(a) The requirements of the CBB Law and Rulebook Volume 6 are not met comprehensively;

(b) The issuer, the lead manager or other appointed advisors do not meet the requirements of this Module;

(c) False or misleading information has been provided to the CBB or to another regulator of the issuer or in the offering documents;

(d) Information otherwise specified by the CBB has not been provided;

(e) If the offer is associated with a listing on a licensed exchange, the CBB may consider that admission to listing of the securities may be detrimental to the fair, orderly and efficient operation of the Bahraini securities market or to the reputation of CBB;

(f) A security is already admitted to listing on another market and the issuer is in breach of listing rules or other relevant regulations; or

(g) The CBB believes it is necessary to refuse permission in order to safeguard the interests of potential investors.