1. The licensee (and, where appropriate, every officer, servant or agent of the licensee) must comply with all the requirements imposed on it by the Online Gaming Act, 2005.

2. The licensee may advertise its interactive gaming services as it sees fit, provided that advertisements must not bring the Island of Anjouan into disrepute or promote gaming amongst under-aged persons.

3. The licensee must establish and maintain appropriate and adequate procedures under which it can identify players who are, or appear to be at risk of becoming, compulsive gamblers and provide to such person’s sufficient information and assistance to enable them to obtain counselling or access to support organisations.

4. The licensee must make all reasonable efforts to keep abreast of international developments as they affect the lawfulness of global interactive gaming and inform itself of jurisdictions where its activities or those of its players are explicitly prohibited and use its best endeavours not to play interactive games where such interactive gaming constitutes criminal activity there on the part of any participant.

5. The licensee must submit to the Gaming Board reports at such intervals and in such a format as determined by the Gaming Board.

6. The licensee must always satisfy such financial ratio requirements established by the Gaming Board as are from time to time notified in writing to it.

7. Cash must not be used in any transaction involving a player’s account.

8. The licensee must take all possible steps to prevent its services being used by those who seek to launder the proceeds of crime and, without prejudice to the generality of the foregoing, must-fully comply with the procedures laid down from time to time by the Gaming Board in respect of- identification of players; keeping of records; identification of suspicious transactions; internal reporting of suspicious transactions; making payments to players; and training of staff; and (b) appoint a senior member of staff (who may but need not be its nominee) to act as its money laundering reporting officer, who must report both to the Gaming Board in Anjouan all transactions identified by him as being suspicious.

9. The licensee shall appoint a senior member of staff (who may but need not be its nominee) to act as its compliance officer, who must report to the Gaming Board on a regular basis in respect of all gaming compliance matters.

10. In the event of any change in the beneficial ownership of the licensee, or of any parent or associated company of the licensee, where the shareholding of any person is or becomes 3% or more, the licensee must within 7 days notify the Gaming Board of that change, setting out the parties to the transaction(s) involved.

11. The licensee must notify the Gaming Board in writing if any gaming or other gambling license issued by any jurisdiction in the world and held by the licensee, the nominee or any natural or legal person associated with the licensee has been terminated otherwise than voluntarily.

12. The licensee must within 48 hours notify the Gaming Board in writing of the details and consequences of any serious incident or problem that may impact negatively on the operation of the license and the remedial steps (if any) taken or the reputation of Anjouan as a jurisdiction for the conduct of interactive gaming.

13. The licensee must as soon as reasonably practicably notify the Gaming Board in writing of any material change in any information supplied by it, whether during the license application process or subsequently, to which the Gaming Board may have regard in determining whether there are grounds for suspension or revocation of the license.

14. The licensee shall, on being given reasonable notice, which shall wherever possible be not less than 7 days, attend a meeting of the Gaming Board for the purpose set out in the notice.

15. Satisfy the Gaming Board that its systems supplier is a fit and proper business associate to be associated with the licensee’s operations.

16. If the license is not renewed on the due date, the License may be suspended.

CONDITIONS OF AN INSURANCE LICENSE

1. The validity of this License shall expire on the date specified overleaf or on the date the licensee ceases to remain incorporated in the Autonomous Island of Anjouan, UNION OF COMOROS whichever is earlier, unless the License is revoked earlier.

2. This License is subject to any variations of the “Government Notice of 006 OF 2005

3. The objects and purpose of the Company is to offer insurance services under the specific class of insurance as specified in the Insurance Regulations.

4. The License shall ipso facto and without any prior notice stand cancelled, if any of the following events take place:

(a) The Company shall engage in any activity that is prohibited by or contrary to any enactment or rule of law for the time being in force in the Autonomous Island of Anjouan, Union of Comoros

(b) The Company is an International Business Company and accordingly shall not, except as may be permitted by its approved Constitution:

• Carry on business in the Autonomous Island of Anjouan, Union of Comoros or own an interest in immovable property situation in the Autonomous Island of Anjouan, Union of Comoros other than a lease of premises from which to carry on its business;

• Carry on banking, gambling, Brokerage or any other business without a specific License;

• At any time have less than one member;

• Make any invitation to the public to subscribe for any shares or debentures in the Company.

(c) For the purposes of subparagraph (2) (a) the Company shall not be treated as carrying a business in the Union of Comoros by reason only that it:

• Carries on business with another company incorporated under the Act or in furtherance of the business of the Company carried on outside the Autonomous Island of Anjouan, Union of Comoros;

• Leases premises from which to carry on its business as permitted by the Act;

• Obtains professional services from its registered agent, counsel, attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers, insurance brokers or agents or other similar persons carrying on business within the Autonomous Island of Anjouan;

• Prepares or maintains its books or records within the Autonomous Island of Anjouan, Union of Comoros;

• Holds meetings within the Autonomous Island of Anjouan, Union of Comoros of its directors or members;

• Holds shares, debt obligations or other securities, in a company incorporated under the Act;

• Issues shares, debt obligations or other securities in a company incorporated under the Act or under the Companies Act.

(d )If the renewal payment is not received on the due date the license will be cancelled

5. The persons conducting the business of the insurance company shall hold themselves personally, jointly, and severally liable for all the acts or commissions, irregularities and violations committed by them after such cancellation.