48. Competent authorities should specify the supervisory procedures applicable to the assessment of adequate knowledge and experience of the management or administrative organs, as a whole, of credit servicers and the good repute of its members. Competent authorities should ensure that a description of supervisory procedures is publicly available.
49. Competent authorities should ensure that their supervisory procedures allow them to address cases of non-compliance with the requirement that the management or administrative organ, as a whole, has adequate knowledge and experience.
| Q7: Is section 8 on the assessment by competent authorities appropriate and sufficiently clear? |