Credit Rating Services Act, 2012 (Act No. 24 of 2012)Board NoticesRequirements for Approval of Compliance Unit4. Criteria for approval of external compliance units |
| (1) | A person to be appointed as a compliance officer of an external compliance unit must have similar experience and qualifications as prescribed under paragraph 3. |
| (2) | The registrar must be satisfied that— |
| (a) | the compliance unit is able to regularly monitor the compliance of the registered credit rating agency; |
| (b) | the compliance officer will be able to comply with the duties of a compliance officer as set out in section 16(3)(a) of the Act. |