Insurance Brokers (Registration) Act 1977
| Jurisdiction | UK Non-devolved |
| Citation | 1977 c. 46 |
| Year | 1977 |
(1) There shall be established a body to be called the Insurance Brokers Registration Council (hereinafter referred to as “the Council”) which shall be a body corporate with perpetual succession and a common seal and shall have the general function of carrying out the powers and duties conferred on them by this Act.(2) The Council shall be constituted in accordance with the Schedule to this Act and the supplementary provisions contained in that Schedule shall have effect with respect to the Council.The Council shall establish and maintain a register of insurance brokers (hereinafter referred to as “ that he holds a qualification approved by the Council under section 6 of this Act, being a qualification granted to him after receiving instruction from an institution so approved; orthat he holds a qualification recognised by the Council for the purposes of this paragraph, being a qualification granted outside the United Kingdom; or meets the requirements set out in paragraph (a) , (b) or (c) of Article 4 of that Directive, and did not end more than ten years before the date on which the application is made.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .as to his character and suitability to be a registered insurance broker; andin a case falling F6within paragraph (a) or (b) of subsection (1) above, that he has had adequate practical experience in the work of an insurance broker; andif he is carrying on business as an insurance broker at the time when the application is made, that he is complying with the requirements of rules under section 11(1) of this Act.(3) Subject to section 16 of this Act, a person shall be entitled to be registered in the register if he satisfies the Council that he or a partnership of which he is a member is accepted as a Lloyd’s broker by the Committee of Lloyd’s.(4) The F7Treasury may, after consulting the Council, by order provide that any of the paragraphs in subsection (1) or (2) above shall be omitted or shall have effect subject to such amendments as may be specified in the order.(1) The Council shall establish and maintain a list of bodies corporate carrying on business as insurance brokers (hereinafter referred to as “the list”) containing the names, principal places of business and such other particulars as may be prescribed of all bodies corporate which are entitled under this section to be enrolled therein and apply in the prescribed manner to be so enrolled.that a majority of its directors are registered insurance brokers; orin the case of a body corporate having only one director, that he is a registered insurance broker; orin the case of a body corporate having only two directors, that one of them is a registered insurance broker and that the business is carried on under the management of that director.(3) A body corporate shall not be entitled to be enrolled in the list by virtue of subsection (1) above unless it also satisfies the Council that it is complying with the requirements of rules under section 11(1) of this Act.(4) Subject to section 16 of this Act, a body corporate shall be entitled to be enrolled in the list if it satisfies the Council that it is accepted as a Lloyd’s broker by the Committee of Lloyd’s.(1) Before refusing an application for registration under section 3 of this Act or an application for enrolment under section 4 of this Act, the Council shall give the person by whom or the body corporate by which the application was made an opportunity of appearing before and being heard by a committee of the Council.(2) Where the Council refuse any such application, the Council shall, if so required by the person by whom or the body corporate by which the application was made within seven days from notification of the decision, serve on that person or body a statement of the reasons therefor.notification of the decision, orif a statement of reasons has been required under subsection (2) above, service of the statement,(4) The Council may appear as respondent on any such appeal and for the purpose of enabling directions to be given as to the
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