Cap. 487 чл. 21Fidelity bonds required of insurance intermediaries.

(1) Without prejudice to article 20, every person enrolled under article 13 shall effect a fidelity bond in a specified form, as respects the insurance distribution activities carried on by the intermediary concerned, in such circumstances, to such value, in such manner and under such conditions as may be determined by Insurance Distribution Rules made for the purposes of this article.

(2) The bond referred to in sub-article (1) shall provide that in the event of the inability or failure of the enrolled person to meet his or its financial obligations in relation to any sums of money received by him or it from, or on behalf of, his or its clients, a sum of money will become available to a person nominated or approved by the competent authority, to be applied for the benefit of any client of the enrolled person who has incurred loss or liability because of the inability or failure of the enrolled person to meet such financial obligations.