Section 12: Approval of qualifications, etc.

(1) The Council may approve any qualification for the purposes of this Act and may for the purposes approve-
(a) any course of training at any approved institution which is intended for persons seeking to become or are already insurance practitioners and which the Council considers is designed to confer on persons completing it, sufficient knowledge and skill for the practice of the profession;
(b) any qualification which as a result of an examination taken in conjunction with a course of training approved by the Council under this section is granted to candidates reaching a standard at the examination, indicating in the opinion of the Council, that the candidates have sufficient knowledge and skill to practice as insurance practitioners.
(2) The Council may, if it thinks fit, withdraw any approval given under this section in respect of any course, qualification or institution; but before withdrawing such an approval the Council shall-
(a) give notice that it proposes to do so to each person in Nigeria appearing to the Council to be a person by whom the course is conducted or the qualification is granted or the institution is controlled, as the case may be;
(b) afford such person an opportunity of making to the Council representations with regard to the proposal; and
(c) take into consideration any representation made as respects the proposal in pursuance of paragraph (b) of this subsection.
(3) A course, qualification or institution shall not be treated as approved during any period the approval is withdrawn under subsection (2) of this section.
(4) Notwithstanding the provisions of subsection (3) of this section, the withdrawal of an approval under subsection (2) of this section shall not prejudice the registration or eligibility for registration of any person who by virtue of the approval was registered or was eligible for registration (either unconditionally or subject to his obtaining a certificate of experience) immediately before the approval was withdrawn.
(5) The giving or withdrawal of an approval under this section shall have effect from such date, either before or after the execution of the instrument signifying the giving or withdrawal of the approval as the Council may specify in the instrument and the Council shall-
(a) as soon as may be, publish a copy of every such instrument in the Gazette; and
(b) not later than seven days before its publication as aforesaid, send a copy of the instrument to the Secretary.