Regulation 10

Every PPF Scheme member shall maintain at all times, a register of all its products which are insured policies (referred to in this regulation as the Register), in such form and manner as may be specified in the Rules.

Every PPF Scheme member shall, within 10 days after 1st April of each year, submit to the Agency a hardcopy of the Register updated to 1st April of that year and an annex, in such form as may be specified in the Rules, setting out the product codes of each product, which is an insured policy, in the Register (referred to in this regulation as the Annex).

Every PPF Scheme member shall notify the Agency of any change to the Register or Annex within 10 days after such change.

Every PPF Scheme member shall, upon reasonable request, make available to any person a copy of the Register (last submitted to the Agency, together with any notification of change since that submission where such change has not been incorporated into the Register) for inspection, at every place of business of the PPF Scheme member where insured policies are offered.

Any PPF Scheme member which contravenes paragraph (1), (2), (3) or (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 and, in the case of a continuing offence, to a further fine of $12,500 for every day or part thereof during which the offence continues after conviction.