HC-3.4.2

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Past version: Effective from 01 Jul 2007 to 31 Dec 2010
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Depending on the nature, scale and complexity of its business, an insurance licensee should consider having a separate compliance function. A compliance function should:

(a) Document its organisation and responsibilities;

(b) Be appropriately staffed with competent individuals;

(c) Have unrestricted access to the licensee's relevant records; and

(d) Have ultimate recourse to the Board.

Amended: January 2007