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.