Section 16: Approval of qualifications

(1) The Council may approve any qualification for the purpose of this Act, and may for that purpose approve -
(a) any course of training at an approved institution which is intended for persons who are seeking to become or are already risk managers and which the Council considers is designed to confer on persons completing it sufficient knowledge and skill for admission to the Institute; and
(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 practise as members of the profession.
(2) The Council may, if it deems fit, review or withdraw any approval given under this section in respect of any course, qualification or institution, but before withdrawing the 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, the qualification is granted, or the institution is controlled, as the case may be;
(b) afford each person an opportunity of making to the Council representations about the proposal; and
(c) take into consideration any representations made in respect of the proposal under paragraph (b).
(3) Any period during which the approval of the Council under this section for a course, qualification or institution is withdrawn, the course, qualification or institution shall not be treated as approved under this section; but the withdrawal of such an approval shall not prejudice the registration or eligibility for registration of any person who by virtue of the approval was registered or eligible for registration immediately before the approval was withdrawn.
(4) 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 that instrument, and the Council shall -
(a) immediately publish a copy of such instrument in the print media; and
(b) not later than seven days before its publication, send a copy of the instrument to the Minister.