42EConditions of close associate approvals

42E Conditions of close associate approvals

42E Conditions of close associate approvals

(1) A close associate approval is subject to any conditions imposed by the NICC—

(a) at the time the close associate approval is issued, or

(b) at a later time and notified by the NICC to the close associate who holds the approval by written notice.

(2) The NICC may, by written notice given to a close associate who holds a close associate approval, vary, substitute or revoke a condition of the approval—

(a) on the NICC’s own initiative, or

(b) on application by the close associate.

s 42E: Ins 2022 No 36, Sch 1[42].