F1PART VUNAUTHORISED PERSONS CARRYING ON INSURANCE MEDIATION ACTIVITIES
Exclusion from record where not fit and proper to carry on insurance mediation activities95
1
If it appears to the Authority that a person who falls within article 93(2) (appointed representatives) (“AR”) is not a fit and proper person to carry on insurance mediation activities, it may decide not to include him in the record or, if that person is already included in the record, to remove him from the record.
2
Where the Authority proposes to make a determination under paragraph (1), it must give AR a warning notice.
3
If the Authority makes a determination under paragraph (1), it must give AR a decision notice.
4
If the Authority gives AR a decision notice under paragraph (3), AR may refer the matter to the Tribunal.
5
The Authority may, on the application of AR, revoke a determination under paragraph (1).
6
If the Authority decides to grant the application, it must give AR written notice of its decision.
7
If the Authority proposes to refuse the application, it must give AR a warning notice.
8
If the Authority decides to refuse the application, it must give AR a decision notice.
9
If the Authority gives AR a decision notice under paragraph (8), AR may refer the matter to the Tribunal.
10
Sections 393 and 394 of the Act (third party rights and access to Authority material) apply to a warning notice given in accordance with paragraph (2) or (7) and to a decision notice given in accordance with paragraph (3) or (8).
Pt. 5 inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 13