GEN 8.7 GEN 8.7 Dismissal or resignation of an Approved Person
An Authorised Person must request the withdrawal of an Approved Person status within seven days of the Approved Person ceasing to be employed by the Authorised Person to perform a Controlled Function.
In requesting the withdrawal of an Approved Person status in respect of an Approved Person performing any Controlled Functions, the Authorised Person must also submit a request to the Regulator in such form as the Regulator shall prescribe. This request shall include details of any circumstances where the Authorised Person may consider that the individual is no longer fit and proper.
If an Approved Person is dismissed or requested to resign in accordance with Rule 8.7.2, a statement of the reason, or reasons, for the dismissal or resignation must be given to the Regulator by the Authorised Person.
If the Approved Person was acting as a trustee, the Trust Service Provider must confirm to the Regulator in writing that a new trustee has been appointed in place of the trustee in question.