[F1PART VU.K.UNAUTHORISED PERSONS CARRYING ON INSURANCE MEDIATION ACTIVITIES

Textual Amendments

F1Pt. 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

Exclusion from record where not fit and proper to carry on insurance mediation activitiesU.K.

95.—(1) If it appears to [F2the FCA] 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 [F2the FCA] proposes to make a determination under paragraph (1), it must give AR a warning notice.

(3) If [F2the FCA] makes a determination under paragraph (1), it must give AR a decision notice.

(4) If [F2the FCA] gives AR a decision notice under paragraph (3), AR may refer the matter to the Tribunal.

(5) [F2The FCA] may, on the application of AR, revoke a determination under paragraph (1).

(6) If [F2the FCA] decides to grant the application, it must give AR written notice of its decision.

(7) If [F2the FCA] proposes to refuse the application, it must give AR a warning notice.

(8) If [F2the FCA] decides to refuse the application, it must give AR a decision notice.

(9) If [F2the FCA] 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 [F3FCA or PRA] 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).]

Textual Amendments