Section 31 of the Act of 1995 is hereby amended by the insertion after subsection (5) of the following subsection:
(a) Where the appointment in writing of an investment product intermediary is discontinued, the investment product intermediary shall ensure the publication of a notice to be known as a 'notice of discontinuance', being a notice that the appointment in writing has been discontinued, in one or more of the newspapers circulating in the State within fourteen days of being informed by the product producer of the discontinuance of the appointment in writing.
(b) Where an investment product intermediary the appointment in writing of whom has been discontinued does not publish a notice of discontinuance in accordance with the requirements of paragraph (a), the product producer who discontinued the appointment in writing shall ensure the publication of a notice of discontinuance in one or more of the newspapers circulating in the State.".