(1) Creditors and mortgage credit intermediaries shall require their staff to possess and to keep up-to-date an appropriate level of knowledge and competence in relation to:
(a) devising or otherwise creating credit products, or the offering or granting of credit agreements,
(b) the carrying out of credit intermediation activities as set out in the definition of "mortgage credit intermediary" in Regulation 4, or
(c) the provision of advisory services.
(2) Where the conclusion of a credit agreement includes an ancillary service, creditors and mortgage credit intermediaries shall require their staff to possess appropriate knowledge and competence in relation to that ancillary service.
(3) The Central Bank shall establish, and publish in a form considered appropriate by it, minimum knowledge and competence requirements for the staff of creditors and mortgage credit intermediaries and those requirements shall at least be in accordance with the principles and other provisions set out in Sch
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