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Article (4): Deeming a Significant or Controlling Shareholding

C 5/2020 Effective from 15/5/2020
  1. The Central Bank may, when it, in its sole discretion considers this to be the substance of the matter, deem that one or more beneficial shareholder/s, singly or acting in concert, is or constitutes a Significant Shareholder or Controlling Shareholder, as the case may be. In this event, the corresponding shareholding/s held will be deemed to constitute a Significant Shareholding/s or a Controlling shareholding/s, as the case may be.
     
  2. Banks are required to provide the Central Bank with sufficient information to identify those persons who control the exercise of a significant or controlling number of voting rights. The Board is responsible for ensuring the Bank’s compliance with these reporting requirements.