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Financial Supervisory Commission Act 2003 - Financial Supervisory Commission (Qualifications of Compliance Officers) Regulations 2004

COOK ISLANDS

FINANCIAL SUPERVISORY COMMISSION
(QUALIFICATIONS OF COMPLIANCE OFFICERS) REGULATIONS 2004

No. 04, 2004
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LAURENCE MURRAY GREIG, Chief Justice of the High Court of the Cook Islands

ORDER IN EXECUTIVE COUNCIL

At Avarua, Rarotonga, this 18th day of February 2004

Present:

HIS HONOUR THE CHIEF JUSTICE OF THE HIGH COURT OF
THE COOK ISLANDS IN EXECUTIVE COUNCIL

PURSUANT to Article 7(1) of the Constitution and section 17(1) of the Financial Supervisory Commission Act 2003, the Chief Justice of the High Court, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.

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ANALYSIS

1. Title
2. Qualifications of Compliance Officers

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REGULATIONS

1. Title - These regulations may be cited as the Financial Supervisory Commission (Qualifications of Compliance Officers) Regulations 2004.

2. Interpretation - In these regulations, unless the context otherwise requires -

"Act" means the Financial Supervisory Commission Act 2003;

"Licensed financial institution" has the same meaning given in section 2 of the Act.

2. Qualifications of Compliance Officers - Every Compliance Officer required to be appointed by a licensed financial institution pursuant to the provisions of section 17(1) of the Act shall be required to have not less than 3 years work experience in finance, law, accounting or insurance in or outside of the Cook Islands.

P. Arere

Clerk of the Executive Council

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These Regulations are administered by the Financial Supervisory Commission