SCHEDULES
SCHEDULE 11Licensing rules
Part 2Structural requirements
Head of Finance and Administration
I113
1
Licensing rules must include the following requirements.
2
A licensed body must at all times have an individual—
a
who is designated as Head of Finance and Administration, and
b
whose designation is approved by the licensing authority.
3
A designation of an individual as Head of Finance and Administration has effect only while the individual—
a
consents to the designation, and
b
is not under this Part of this Act disqualified from acting as Head of Finance and Administration of a licensed body.
4
The licensing authority may approve a person's designation only if it is satisfied that the person is a fit and proper person to carry out the duties imposed by section 92 in relation to that body.
5
The licensing authority may approve a person's designation in the course of determining an application for a licence under section 84.
6
If the licensing authority is satisfied that the person designated as a licensed body's Head of Finance and Administration has breached a duty imposed by section 92, it may withdraw its approval of that person's designation.
I214
1
Licensing rules must make provision—
a
about the procedures and criteria that will be applied by the licensing authority when determining under paragraph 13(4) whether an individual is a fit and proper person;
b
for a review by the licensing authority of a determination under that paragraph that an individual is not a fit and proper person;
c
about the procedures and criteria that will be applied by the licensing authority in determining under paragraph 13(6) whether to withdraw its approval;
d
for a review by the licensing authority of a determination under that paragraph to withdraw its approval;
e
about the procedure which is to apply where a licensed body ceases to comply with the requirement imposed by virtue of paragraph 13(2).
2
The rules made in accordance with sub-paragraph (1)(e) may in particular provide that the requirement imposed by virtue of sub-paragraph 13(2) is suspended until such time as may be specified by the licensing authority if the licensed body complies with such other requirements as may be specified in the rules.