Cap. 487 Art. 8Qualifications for registration.

(1) A person shall be entitled to be registered in the "Agents Register", the "Managers Register" or the "Brokers

Register" if such person satisfies the competent authority that the person -

(a) is an individual;

(b) is fit and proper to be so registered and to ensure the company’s sound and prudent management;

(c) has appropriate knowledge and ability in order to complete tasks and perform duties adequately, in relation to insurance distribution activities and reinsurance distribution activities and possesses the qualifications and fulfils or complies with the requirements determined by Insurance Distribution Rules made for the purposes of this article.

(2) A person shall not be entitled to carry out insurance distribution activities and reinsurance distribution activities by virtue of his registration under this article unless he is a director or an managers and insurance brokers, in this Act separately referred to as the "Agents List", the "Managers List", or the "Brokers List", containing particulars of all persons which are entitled under this Act to be enrolled therein and which apply in the manner determined from time to time by the competent authority in Insurance Distribution Rules made for the purposes of this article. The said Lists shall be updated on a regular basis.

(2) The Agents List, the Managers List, and the Brokers List are to specify the names of the registered individuals within the management of the intermediary who are responsible for the insurance distribution activities or reinsurance distribution activities.

(3) In the case of cross-border activities carried out in terms of the Insurance Distribution Directive, the Agents List, the Managers List, and the Brokers List shall also indicate the Member States or the EEA States in which the intermediary is carrying out insurance distribution activities or reinsurance distribution activities, and the competent authority shall communicate that information to EIOPA, for the purpose of publication on EIOPA’s single electronic register in terms of Article 3(4) of the Insurance Distribution Directive.

(4) The competent authority shall have the right to modify such data stored on EIOPA’s single electronic register referred to in sub-article (3), and data subjects, whose personal details are stored on such register and exchanged, shall have the right to access such stored data and the right to be appropriately informed.