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  • Financial Soundness

    • FP-1.3.5

      FP-1.3.5 In determining if a person is financially sound as required under FP-1.3.1 (b) the following factors may be relevant and would require careful consideration as regards the circumstances and the reasons for such occurrence:

      (a) Such person was adjudged bankrupt by a court, unless a period of 5 years has passed, during which the person has been able to meet all his obligations;
      (b) Such person has failed to satisfy a judgement debt under a court order resulting from a business relationship; or
      (c) Such person has seriously or persistently failed to manage personal debts or financial affairs satisfactorily, in circumstances where such failure caused loss to others.
      Added: March 2025