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Amendment to Fit and Proper Requirements for Representatives working under supervision

According to Board Notice 260 of 2013, published in the Government Gazette of 19 December 2013, representatives must:
1. successfully complete the relevant first level regulatory examination by 30 June after the expiry of 24 months from         the date of first appointment as a representative

2.  successfully complete the relevant second level regulatory examination(s) by 30 June after the expiry of 72 months      from the date of first appointment as representative

3.  obtain the relevant qualification by 30 June after the expiry of 72 months from the date of first appointment as a            representative
This is an important amendment to the deadlines that were previously applicable, which stated that representatives had to successfully complete the regulatory examination(s) and qualifications on 31 December of the year in which they concluded 24 months (Level 1 RE’s)and 72 months (Level 2 RE’s and qualifications) of service under supervision. This means that the representative has an additional six months to complete the Regulatory Examinations and the qualifications.

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