166. If an institution's assessment or re-assessment concludes that a person is not suitable to be appointed as a member of the management body that person should not be appointed or, if the member has already been appointed, the institution should replace that member. With the exception of criteria relevant to the assessment of reputation, honesty and integrity, if an institution's assessment or re-assessment identifies easily remediable shortcomings in the members knowledge, skills, experience, the institution should take appropriate corrective measures to overcome those shortcomings in a timely manner.

167. If an institution's assessment or re-assessment concludes that the management body is not collectively suitable the institution should take appropriate corrective measures in a timely manner.

168. When an institution takes corrective measures it should consider the particular situation and shortcomings of an individual member or the collective composition of the management body. In the case of the authorisation of an institution to take up its business such measures should be implemented before the authorisation is granted. [See footnote 28]

169. Appropriate corrective measures may include, but are not limited to: adjusting responsibilities between members of the management body; replacing certain members; recruiting additional members; possible measures to mitigate conflicts of interest; training single members; or training for the management body collectively to ensure the individual and collective suitability of the management body.