Regulatory Alerts2012-11-21
Application Form for Acquisition of Substantial Interest in a Bureau de Change
The Central Bank (CBS) under the Financial Institutions Act 2004 requires applicants to submit this standardized form when acquiring ten percent or more of a bureau de change’s capital, voting rights, or management influence. The application mandates detailed disclosures regarding share quantities and pricing, applicant curricula vitae, and formal declarations confirming the absence of fraud convictions or ongoing regulatory investigations. Central Bank officials retain discretion to request supplementary documentation, ensuring comprehensive oversight of substantial ownership transitions within licensed financial institutions.
Share