When a person stops holding an appointment
43 When a person stops holding an appointment
A person stops holding an appointment as a general insurer’s auditor or actuary if:
the person is disqualified under section 44 from holding the appointment; or
the person resigns the appointment by giving written notice to the insurer; or
the insurer ends the appointment by giving written notice to the person.
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:
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
has failed to comply with a requirement of the Financial Accountability Regime Act 2023; or
does not meet one or more of the criteria for fitness and propriety set out in the prudential standards; or
does not meet the eligibility criteria for the appointment set out in the prudential standards.
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