A person shall be taken to be a grandfathered person and comply with these Standards in respect of a function to be exercised only if all of the following conditions are met:
a) on 1 January 2007, the person was dealing with the retail financial product or specified function in respect of which he/she is availing of the grandfathering arrangements (other than retail credit or home reversion agreements), or on 1 June 2008, the person was dealing with retail credit or home reversion agreements;
and
b) the person had four years’ experience carrying out the function to be exercised in the period 1 January 1999 to 1 January 2007 (1 June 2000 to 1 June 2008 in the case of retail credit and home reversion agreements), and
c) an assessment for grandfathering purposes was carried out and documented by the regulated firm, and
d) the regulated firm certified the person’s compliance with the experience requirement, and
e) the person complies with the requirement to complete Continuing Professi
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