Withdrawal of permission

2. The Council may at any time withdraw the permission of a managing agent to manage a syndicate if –

(a) the managing agent is not suitable to manage that syndicate;

(b) the managing agent has failed to comply with any requirement of the Council;

(c) the managing agent has ceased to manage that syndicate;

(d) the managing agent so requests; or

(e) the managing agent has not carried out underwriting on behalf of the syndicate in accordance with the parameters set under paragraph 2.(e) in Business plans and performance monitoring.

^{Underwriting Byelaw, paragraph 67}

3. Where the Council considers that there are grounds for withdrawing the permission of an underwriting agent or approved run-off company to act as such or withdrawing the permission of a managing agent to manage a syndicate under any of the preceding provisions of this part the Council may if it considers that there is good reason to do so –

(a) postpone the withdrawal of permission for such period or periods as the Council may from time to time specify or until the Council shall otherwise determine; and

(b) in connection with such postponement, at any time give such directions as it may think fit, including without limitation a direction that the underwriting agent shall not carry on any business or business activity of a specified class or description.

^{Underwriting Byelaw, paragraph 68}

The following Codes have been issued under paragraph 31 of the Underwriting Byelaw.