The Board of Directors of the Insurance Authority, having perused:
- The Federal Law No. 6 of 2007 concerning the Establishment of the Insurance Authority and Organization of its Operations, as amended;
- The Board of Directors Decision No. 2 of 2009 regarding issuing the Implementing Regulations of the Federal Law No. 6 of 2007 concerning the Establishment of the Insurance Authority and Organization of its Operations;
- The regulations, instructions and decisions relating to insurance-related professions; and
- Based on the recommendation of the Director General of the Authority, and the approval of the Board of Directors,
Has resolved:
Without prejudice to any penalty prescribed by any applicable legislation, the impact of the disciplinary penalty imposed on any person practicing any insurance related-profession and / or an employee thereof shall elapse according to the specific periods for each of the following sanctions:
- The impact of the warning (notification) shall elapse after the lapse of 60 d...