The competence requirements relating to regulatory examinations contained in this Part—
| (a) | subject to paragraph (b), apply to all FSPs, key individuals and representatives; |
| (i) | a Category I FSP, its key individuals and representatives that are authorised, approved or appointed only to render financial services or manage or oversee financial services in respect of the financial products: Long-term Insurance subcategory A and/or Friendly Society Benefits; and |
| (ii) | a representative of a Category I FSP that is appointed only to— |
| (aa) | perform the execution of sales in respect of a Tier 1 financial product provided that the requirements in section 22(b)(ii) are complied with; and/or |
| (bb) | render financial services in respect of a Tier 2 financial product. |
