GEN 11.6 GEN 11.6 Temporary cover
GEN 11.6.1(1) An
Authorised Firmmay, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individualwhere the following conditions are met:(a) the absence of the Authorised Individualis temporary or reasonably unforeseen;(b) the functions are carried out for 12 weeks maximum in any consecutive 12 months; and(c) the Authorised Firmhas assessed that the individual has the relevant skills and experience to carry out these functions.(2) An Authorised Firmmay not appoint under (1) an individual to carry out the Licensed Functionsof a Licensed Directoror Licensed Partner.(3) The Authorised Firmmust take reasonable steps to ensure that the individual complies with all the Rulesapplicable to Authorised Individuals.(4) Where an individual is appointed under this Rule, the Authorised Firmmust notify the DFSAin writing of the name and contact details of the individual appointed.
Where an individual is appointed under this section, the
DFSAmay exercise any powers it would otherwise be entitled to exercise as if the individual held Authorised Individualstatus.