43When a person stops holding an appointment

43 When a person stops holding an appointment

(1) A person stops holding an appointment as a general insurer’s auditor or actuary if: (c) the person is disqualified under section 44 from holding the appointment; or (d) the person resigns the appointment by giving written notice to the insurer; or (e) the insurer ends the appointment by giving written notice to the person. (2) A general insurer must end a person’s appointment as an auditor or actuary of the general insurer, by giving the person written notice under paragraph (1)(e), if the general insurer is satisfied that the person: (a) has, in relation to the insurer, failed to perform adequately and properly the functions and duties of the appointment under this Act or the prudential standards; or (aa) has failed to comply with a requirement of the Financial Accountability Regime Act 2023; or (b) does not meet one or more of the criteria for fitness and propriety set out in the prudential standards; or (c) does not meet the eligibility criteria for the appointment set out in the prudential standards.