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Improper influence

when a person – usually the owner -  attempts to influence the decisions of the Licensed (ABS) Body, or the conduct of Authorised Persons in a way which would constitute a breach of licensing requirements and of regulatory duties.  

Insolvency (event)
  1. resolution for a voluntary winding up of the body is passed without a solvency declaration (under s.89 of the Insolvency Act 1986)
  2. the body enters administration under the meaning of Schedule B1, para 1(2)(6) of that Act
  3. an administrative receiver within s.251 of that Act is appointed
  4. a meeting of creditors – which has the effect of converting a members’ voluntary winding up into a creditor’s voluntary winding up – is held in relation to the body under s.95 of that Act

an order winding up the body is made.

Insurance Intermediaries

the record maintained by the Financial Conduct Authority (previously the Financial Services Authority) under s.347 FSMA.

Insurance Mediation Activities

the activities of introducing, proposing, or carrying out other work reparatory to the conclusion of contracts of insurance, or of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim.

Insurance Mediation Directive (IMD)

Directive No 2002/92/EU.

Intended licence

under the Student Training Framework this means the licence that an applicant is intending to train to acquire:

  1. a conveyancing licence; and/or
  2. a probate licence; and/or
  3. a litigation licence; and/or
  4. an advocacy licence.
Intervention

a legal process whereby an agent is appointed to organise the formal closure of the business.