Paragraph 2
United Kingdom
The persons chosen to represent registered insurance brokers in the first instance shall be nominated by the British Insurance Brokers’ Association.
The persons chosen to represent registered insurance brokers after the retirement of those nominated under sub-paragraph (1) above shall be elected by registered insurance brokers in accordance with a scheme which—
shall be made by the Council;
shall not come into operation until approved by order of the F1Treasury; and
may be varied or revoked by a subsequent scheme so made and so approved.
The Treasury may approve a scheme either as submitted to F2them or subject to such modifications as they think fit; but where the Treasurypropose to approve a scheme subject to modifications they shall notify the modifications to the Council and consider any observations of the Council thereon.
The Council shall submit a scheme to the Treasury for approval before the expiration of a period of two years beginning with the day appointed for the coming into operation of section 1 of this Act.
In the exercise of any functions under this paragraph due regard shall be had to the desirability of securing that the Council includes persons representative of all parts of the United Kingdom.
Annotations
Textual amendments
- F1
Words in Sch. para. 2(2)(3)(4) substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 107(with art. 7)
- F2
Words in Sch. para. 2(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 111(with art. 7)
Notes on the whole Act
Textual amendments
- F1
Act repealed (30.4.2001) by 2000 c. 8, ss. 416(1)(c), 432(3), Sch. 22; S.I. 2001/1282, art. 2