Section 25C: Application of sections 25A and 25B

25C. Application of sections 25A and 25B Sections 25A and 25B shall also apply to a person holding – (a) an authorisation under section 71A; (b) a Global Business Licence; (c) a licence under the Insurance Act; (d) a licence under the Captive Insurance Act; or (e) a licence under the Private Pension Schemes Act. (e) in section 29, in subsection (5), by inserting, after paragraph (a), the following new paragraph – (aa) Every qualified trustee shall, at the request of the Commission, provide any information recorded pursuant to paragraph (a). (f) in section 31, by inserting, after subsection (1), the following new subsections – (1A) Any advertisement proposed to be published under subsection (1) shall be submitted to the Commission not later than 7 working days prior to the date of first publication. (1B) Where, on receipt of a copy of the advertisement under subsection (1A), the Commission is not satisfied with the advertisement, it shall, before the date of first publication, require the licensee to amend, withdraw or refrain from publishing the advertisement. 450 Acts 2024 (g) in section 44, in subsection (7), in the definition of “investigator”, in paragraph (b), by inserting, after the words “the Commission”, the words “or the Chief Executive”; (h) in section 53, in subsection (1)(a), in subparagraph (iii), by deleting the words “has committed” and replacing them by the words “is committing or has committed”; (i) in section 71, in subsection (3), by inserting, after paragraph (a), the following new paragraph – (aa) Notwithstanding section 72(1)(a), an application from the holder of a Global Business Licence to appoint a new management company shall be accompanied by such fees as may specified in the FSC Rules. (j) in section 71A – (i) in subsection (6), by inserting, after the words “Sections 44(6),”, the words “73A,”; (ii) in subsection (7), by adding the following new paragraph, the existing provision being numbered as paragraph (a) – (b) Notwithstanding paragraph (a), an application by an Authorised Company to appoint a new registered agent shall be accompanied by such fees as may be specified in the FSC Rules. (iii) in subsection (10), by inserting, after the words “once in every year”, the words “but not later than 6 months after the close of its financial year”; (k) by inserting, after section 73, the following new section –