Guidelines for Managed Licensees

Published: Wednesday June 1st, 2011

Amended: Thursday March 22nd, 2012

These Guidelines outline the Central Bank’s policy for the minimum requirements for the management and operation of banks and trust companies that operate under either a restricted bank and/or trust company licence, or a restricted bank and/or trust company licence, whose operation is limited to conducting business with or seeking/accepting deposits from the primary shareholder(s) and the “immediate family members” of the primary shareholder(s), without a physical presence, (collectively referred to hereafter as “Managed Licensees”). These Guidelines replace and supersede the Guidelines with Respect to the Requirements for the Continuation of the Management of Restricted Banks and Trust Companies (Currently without a Physical Presence) issued on 17th May 2002 and amended on 15th November 2004.