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E)
Professional Indemnity Insurance
1: The Agent shall hold and maintain in force with an approved
insurer professional indemnity cover on such terms and for such amount as shall
be required by the Company from time to time.
2: If required the Agent undertakes at each anniversary date of
inception of it’s professional indemnity policy to advise the Company that
professional indemnity cover to the required level has been renewed and to
provide evidence of such renewal.
F)
Code of Conduct
The Agent agrees that they comply with the Code of Conduct
in accordance with Section 37 of the Investment Intermediaries Act, 1995 as
amended by the Insurance Act 2000 and in accordance with any other current or
future statutory or regulatory requirement.
G)
Data Protection Act, 1988
The Company and the Agent shall comply with their
obligations under the Data Protection Act, 1988 in so far as they apply or
subsequent amendments as may be made from time to time.
H)
Direct Dealings with the Company
The Company will recognise and take cognisance of the
special relationship existing between the Agent and the Client and will not do
any act which will interfere with or damage the relationship existing between
the Agent and the Client.
I)
Sale/Transfer/Change of Directors/ Change of Capital Structure
This agreement between the Company and the Agent may not be
transferred by the Agent to any other party. Any alteration in the title/capital
structure/shareholding or directors of the Agency must be notified to the
Company. Any alteration in the title/capital structure/shareholding or directors
of the Agency may result in the automatic cancellation of this Agency agreement
without compensation to the Agent.
J) Termination of Agreement
The Company shall be entitled to terminate this agreement
upon the happening of any of the following:
Any act of fraud, dishonesty or misconduct committed by the
Agent.
A contravention of any of the regulations contained in the
Insurance Act, 1989, Investment Intermediaries Act, 1995, Insurance Act, 2000,
the Investor Compensation Act, 1998 and/or subsequent Act or Statutory
Instrument.
In the event that professional indemnity cover held by the
Agent is cancelled by the Insurer or is allowed by the Agent to lapse.
Should the Agent fail to disclose at appointment any
criminal convictions (other than a motoring offence not resulting in a custodial
sentence) or if after appointment they shall be so convicted, the Agent
undertakes to inform the Company within 14 days of the date of any such
conviction or the Agent or any of it’s Directors, Partners or Principals.
The Company may also terminate this agreement at any other
time without giving any reasons.
Notice of any termination by the Company shall be given in
writing and shall be posted to the Agent’s registered office or business address
notified to the Company, or if none, the last known address. Such notice shall
be deemed to take effect 48 hours after posting.
Upon termination there shall be no liability on the Company
to make any payment in compensation and no commission shall be payable other
than commission earned up to the effective date of termination.
Any renewal of a policy after termination of this agency
agreement will not give rise to any entitlement of commission.
Upon termination of this agreement the credit terms as
outlined herein are inoperative and all monies due to the Company at that time
must be paid immediately.
Upon termination of this agreement the Agent shall ensure
the publication of a “notice of discontinuance” pursuant to the requirements of
Section 61 of the Investor Compensation Act, 1998.
Where the Agent does not publish a “notice of
discontinuance” the Company shall ensure the publication of a “notice of
discontinuance”.
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