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7.—(1) A person shall not carry on an agency unless she is fit to do so.
(2) A person is not fit to carry on an agency unless the person—
(a)is an individual, who carries on the agency—
(i)otherwise than in partnership with others, and she satisfies the requirements set out in paragraph (3);
(ii)in partnership with others, and she and each of her partners satisfies the requirements set out in paragraph (3);
(b)is a partnership, and each of the partners satisfies the requirements set out in paragraph (3);
(c)is an organisation and—
(i)the organisation has given notice to the Commission of the name, address and position in the organisation of an individual (in these Regulations referred to as “the responsible individual”) who is a director, manager, secretary or other officer of the organisation and is responsible for supervising the management of the agency; and
(ii)that individual satisfies the requirements set out in paragraph (3).
(3) The requirements are that—
(a)she is of integrity and good character;
(b)she is physically and mentally fit to carry on the agency; and
(c)full and satisfactory information is available in relation to her in respect of each of the matters specified in Schedule 2.
(4) A person shall not carry on an agency if—
(a)she has been adjudged bankrupt or sequestration of her estate has been awarded and (in either case) she has not been discharged and the bankruptcy order has not been annulled or rescinded; or
(b)she has made a composition or arrangement with her creditors and has not been discharged in respect of it.
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