Subject Title - INSETA

Display licence3BRegistrarconsidersapplication4Registrarissues licenceAn FSP must display certified copies of the licence in aprominent and durable manner in every business premisesand must ensure that all business documentation,advertisements and other promotional material refers to thelicence and that the licence is at all times immediately orwithin a reasonable time available to any person who has alegal right to request it or who wants to enter into a businessrelationship with the FSP.The Registrar may withdraw a licence on application bylicensee or own initiative. The Registrar may also withdraw oramend conditions and the licensee may respond. TheRegistrar may, pursuant to an evaluation of a new keyindividual, impose new conditions (with reasons), after givingthe licensee time to respond. Amended licences must beissued in accordance with the actions of the Registrar.If the Registrar approves the application, a licence is issued tothe applicant.Certain requirements apply to persons who are accreditedunder the Medical Schemes Act 40 . These are described inSection 8(7) – it means that they must apply for a FAISlicence as well and the same fit and proper requirementsapply. If the FAIS licence is refused, suspended or withdrawn,the accreditation in terms of the Medical Schemes Act will bedeemed to have lapsed, suspended or been withdrawn and ifthe accreditation in terms of the Medical Schemes Act iswithdrawn, the FAIS licence will be considered suspended orwithdrawn. 415RegistrarrefusesapplicationIn the event that the application is refused, the Registrar mustadvise the applicant and provide reasons for the refusal.40 Medical Schemes Act, 1998 (Act No. 131 of 1998)41 Section 8(7)9d)(iv) of the Act© INSETA - Section 1 12a 103