26. Approval of chief executive officer and director of insurance broker
Feedback & supportNo registered insurance broker shall appoint a person as its chief executive officer or director in Singapore unless the insurance broker satisfies the Authority that that person is a fit and proper person to be so appointed and has obtained the approval of the Authority.
registered insurance broker
“registered insurance broker” means a person who is for the time being registered under Part III;
Any person aggrieved by any decision of the Authority under subsection (1) may appeal to the High Court.
In this section —
“chief executive officer”, in relation to a registered insurance broker, means any person by whatever name called employed by the insurance broker to be directly responsible for the conduct of any type of business of the insurance broker in Singapore;
insurance broker
“insurance broker” means a person who is or has been carrying on insurance business in Singapore as an agent for insureds or intending insureds;
“director” has the same meaning as in the Companies Act (Cap. 50).