Registration and training of insurance brokers
7 Supervision of educational institutions and qualifying examinations.
1
It shall be the duty of the Council to keep themselves informed of the nature of the instruction given by any approved educational institution to persons being educated as insurance brokers and of the examinations on the results of which approved qualifications are granted.
2
For the purposes of their duty under subsection (1) above the Council may appoint persons to visit approved educational institutions and to attend at the examinations held by the bodies which grant approved qualifications.
3
It shall be the duty of visitors appointed under subsection (2) above to report to the Council as to the sufficiency of the instruction given by the institutions visited by them, or of the examinations attended by them, and as to any other matters relating thereto which may be specified by the Council either generally or in any particular case, but no visitor shall interfere with the giving of any instruction or the holding of any examination.
4
Where it appears to the Council (as a result of a report under subsection (3) above or otherwise),—
a
that the instruction given by any approved educational institution to persons being educated as insurance brokers or the examinations taken by such persons are not such as to secure the possession by them of adequate knowledge and skill for the practice of their profession; and
b
that by reason thereof the approval of the institution or qualification in question should be withdrawn,
the Council shall give notice in writing to the institution or body of their opinion, sending therewith a copy of any report on which their opinion is based.
5
On the receipt of the notice the institution or body may, within such period (not being less than one month) as the Council may have specified in the notice, make to the Council observations on the notice and any report sent therewith or objections to the notice and report.
6
As soon as may be after the expiration of the period specified in the notice under subsection (4) above the Council shall determine whether or not to withdraw their approval of the institution or qualification, as the case may be, taking into account any observations or objections duly made under subsection (5) above.
7
The Council shall give notice in writing of any decision under this section to withdraw approval of an institution or qualification to the institution or body concerned and the decision shall not take effect until the expiration of one month from the date of the giving of the notice or, if during that time the institution or body makes representations with respect to the decision to the F2Treasury, until the representations are finally dealt with.
8
Where the Council have decided to withdraw approval of an institution or qualification, the F2Treasury, on representations being made to F3them within one month from the giving of notice of the decision, may, if F3they think fit, after considering the representations and after consulting the Council order the Council to annul the withdrawal of approval.
9
The Council may pay to visitors appointed under this section such fees and such travelling and subsistence allowances as the Council may determine.