The Insurance Mediation Directive (Miscellaneous Amendments) Regulations 2003

PART 3PROFESSIONALS

Authority’s power to give directions in relation to the application of the general prohibition to members of a profession

9.  In section 328 of the Act (directions in relation to the general prohibition)—

(a)for subsection (6), substitute—

(6) The Authority may exercise the power conferred by subsection (1) only if it is satisfied either—

(a)that it is desirable to do so in order to protect the interests of clients; or

(b)that it is necessary to do so in order to comply with a Community obligation imposed by the insurance mediation directive.; and

(b)in subsection (7), for “so satisfied”, substitute “satisfied of the matter specified in subsection (6)(a)”.