154G   Agents of Nominal Insurer

(1)  The Nominal Insurer may enter into arrangements (agency arrangements) by contract or otherwise for the appointment of persons to act as agent (a scheme agent) for the Nominal Insurer in connection with the exercise of any functions of the Nominal Insurer.

(2)  A scheme agent is, in the exercise of functions under an agency arrangement, subject to the direction and control of the Nominal Insurer as provided by the terms of the agency arrangement.

(3)  A person incurs no personal liability for or in connection with a liability incurred by the person as agent for the Nominal Insurer in the exercise of functions in good faith with due care and skill and within the scope of the agent’s actual authority to act.

(4)  This section does not limit the power of the Authority to act for the Nominal Insurer.