What is the requirement for seeking approval for the change of a shareholder(s)/beneficial interest?

When changing a shareholder/beneficial interest of a bank, the Commission must be presented with a breakdown of the bank's proposed shareholding (which must indicate the number and percentage of shares held by each proposed shareholder). Additionally, information on the new shareholder must include the following:

• Two professional character references (plus one financial reference)
• A police certificate or notarized affidavit as to non- criminal record
• A completed personal questionnaire
• Notarized copy of individual passport identification page(s).
• Detailed resume