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Related party transactions

(as defined under Paragraph BR-2.3.26)

A related party of an insurance firm includes:

(a) A controller of the insurance firm as defined in Module GR;
(b) A close link of the insurance firm as defined in Module GR;
(c) An associate of a controller as defined in Module GR;
(d) The extended family of a controller including a father, mother, father-in-law, mother-in-law, brother, sister, brother-in-law, sister-in-law, or grandparent;
(e) A corporate entity, whether or not licensed or incorporated in Bahrain, where any of the persons identified in Sub-Paragraphs (c) and (d) is a director or would be considered a controller were the definition of controller set out in Paragraph GR-5.2.1 applied to that corporate entity.
Amended: July 2007