Common use of COMPETENCE REQUIREMENTS Clause in Contracts

COMPETENCE REQUIREMENTS. 20.1 The Executive must comply with any regulatory and compliance requirements which apply to the Position, including (but not limited to): (a) the Code of Conduct for Dealings in Investments by Directors and Employees; (b) the Code of Conduct for Handling Investment Business for Customers; and (c) the Financial Services and Markets ▇▇▇ ▇▇▇▇ (“FSMA”), all applicable secondary legislation made under the FSMA and all applicable rules, regulations and guidance of the Financial Services Authority (“FSA”) and any other statutory body involved in regulation of the activity carried out by the Executive in the Position or otherwise in the course of the Employment. [Subject to review in light of specific duties of the Executive.] The Company may take disciplinary action, up to and including dismissal, if the Executive does not comply with these requirements. 20.2 The Position is subject to statutory regulation by the Financial Services Authority (“FSA”). FSA Regulations require that, in order to perform the Position, the Executive must be assessed as competent on an ongoing basis, in line with appropriate criteria. If the Executive fails to meet the appropriate standard of competence, the Company would be in contravention of its obligations under the FSA Regulations if it permitted the Executive to continue to work in the Position. The Company will therefore take appropriate action to fulfil its regulatory obligations, which may result in termination of the Employment. 20.3 The Company shall provide to the Executive all reasonable assistance, training, support and access to advice (at the cost of the Company) in connection with statutory regulatory and compliance requirements.

COMPETENCE REQUIREMENTS. 20.1 19.1 The Executive must comply with any regulatory and compliance requirements which apply to the Position, including (but not limited to): (a) the Code of Conduct for Dealings in Investments by Directors and Employees; (b) the Code of Conduct for Handling Investment Business for Customers; and (c) the Financial Services and Markets ▇▇▇ ▇▇▇▇ (“FSMA”), all applicable secondary legislation made under the FSMA and all applicable rules, regulations and guidance of the Financial Services Authority (“FSA”) and any other statutory body involved in regulation of the activity carried out by the Executive in the Position or otherwise in the course of the Employment. [Subject to review in light of specific duties of the Executive.] The Company may take disciplinary action, up to and including dismissal, if the Executive does not comply with these requirements. 20.2 19.2 The Position is subject to statutory regulation by the Financial Services Authority (“FSA”). FSA Regulations require that, in order to perform the Position, the Executive must be assessed as competent on an ongoing basis, in line with appropriate criteria. If the Executive fails to meet the appropriate standard of competence, the Company would be in contravention of its obligations under the FSA Regulations if it permitted the Executive to continue to work in the Position. The Company will therefore take appropriate action to fulfil its regulatory obligations, which may result in termination of the Employment. 20.3 19.3 The Company shall provide to the Executive all reasonable assistance, training, support and access to advice (at the cost of the Company) in connection with statutory regulatory and compliance requirements.