Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
(a) the absence of the
Authorised Individual is temporary or reasonably unforeseen;
(b) the functions are carried out for 12 weeks maximum in any consecutive 12 months; and
Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.
Authorised Firm may not appoint under (1) an individual to carry out the Licensed Functions of a Licensed Director or Licensed Partner.
Authorised Firm must take reasonable steps to ensure that the individual complies with all the Rules applicable to Authorised Individuals.
(4) Where an individual is appointed under this
Rule, the Authorised Firm must notify the DFSA in writing of the name and contact details of the individual appointed.
Derived from Notice of Amendments to Legislation April 2011 [VER27/02-11]