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AU-1.2.9A

The Chairman of the Board may not act as the Chief Executive or General Manager. However, in the case of appointing a Director on the Board as the Managing Director of the insurance licensee, such person:

(a) Should be fully responsible for the executive management and performance of the insurance licensee, within the framework of delegated authorities set by the Board;
(b) Must devote full-time working hours to the insurance licensee; and
(c) Must not be employed at any other firm.
Added: April 2011