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TC-2.3.4

In instances, where an approved person in one conventional bank licensee moves to another conventional bank licensee and occupies the same function, the CBB will exercise its discretion on whether to grandfather such approved person from the required qualifications and competencies outlined in Appendix TC-1 into the new conventional bank licensee. The grandfathering criteria used by the CBB will include a comparison of the scope and size of both positions. This will also apply in instances where an approved person in one conventional bank licensee moves from one department to another within the same conventional bank licensee.

October 2013