F1PART VUNAUTHORISED PERSONS CARRYING ON INSURANCE DISTRIBUTION ACTIVITIES

Exclusion from record where not fit and proper to carry on insurance F2distribution activities95.

(1)

If it appears to F3the FCA that a person who falls within article 93(2) (appointed representatives) (“AR”) is not a fit and proper person to carry on insurance F4distribution 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.

F5(1A)

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(2)

Where F3the FCA proposes to make a determination under paragraph (1), it must give AR a warning notice.

(3)

If F3the FCA makes a determination under paragraph (1), it must give AR a decision notice.

(4)

If F3the FCA gives AR a decision notice under paragraph (3), AR may refer the matter to the Tribunal.

(5)

F3The FCA may, on the application of AR, revoke a determination under paragraph (1).

(6)

If F3the FCA decides to grant the application, it must give AR written notice of its decision.

(7)

If F3the FCA proposes to refuse the application, it must give AR a warning notice.

(8)

If F3the FCA decides to refuse the application, it must give AR a decision notice.

(9)

If F3the 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 F6FCA 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).