Section 60

Without limiting the generality of section 47 and for the purposes of paragraphs 55(1)(c) and 55(2)(b), the Bank may specify fit and proper requirements to be complied with by a chairman, director, chief executive officer or senior officer of an institution or a financial adviser’s representative, which may include minimum criteria relating to—

Where an issue arises as to whether a chairman, director, chief executive officer, senior officer or financial adviser’s representative has complied with the fit and proper requirements as specified under subsection (1), the Bank shall have full discretion to determine the issue.