The CMA has decided to implement the Professional Qualification Program for the Registered Employment Positions in two phases according to the dates specified and announced by the CMA. The first phase is the preliminary implementation (1 October 2019) and the second phase is the mandatory implementation (extended to 1 October 2021). The CMA has divided the segments concerned with the implementation of the PQP into three different segments, taking into consideration persons already registered in the Registered Employment Positions for Licensed Persons prior to the preliminary implementation phase and applications for nomination and registration of such positions after that phase.
Persons registered before the preliminary implementation phase:
Persons registered in the Registered Employment Positions for Licensed Persons before the preliminary implementation phase of the PQP are exempted from the PQP, and their participation in training courses for the technical and regulatory qualifications or passing these qualifications voluntarily shall suffice. This shall be within two years from the date of the preliminary implementation phase.
The Licensed Persons shall, within two years from the date of the preliminary implementation phase, provide the CMA with the documents proving that they have met one of the following requirements as the case may be:
1. Participation of the persons registered with the Licensed Person in the required training courses for the technical and regulatory qualifications according to the PQP table.
2. Persons registered have met the requirement of the professional certificate or the years of experience required to exempt them from the technical qualification according to the exemption policy.
3. Certificate of passing the technical and regulatory qualifications according to the PQP table.
Applications for nomination and registration submitted between the preliminary and mandatory implementation phases:
Applicants for nomination and registration for the Registered Employment Positions during the period between the preliminary and mandatory implementation phases are exempted from the PQP until renewal for their registration for the Registered Employment Positions at the CMA, where passing the technical and regulatory qualifications becomes a condition for renewing the registration.
If the CMA approves the application for nomination or registration, the Licensed Person shall, upon renewal of the registration of the Registered Employment Positions, provide the CMA with the documents proving that they have met one of the following requirements as the case may be:
1. Certificate of passing the technical and regulatory qualifications in accordance with the PQP table.
2. The registered person have met the professional certificate requirement or years of experience required for exemption from the technical qualification in accordance with the exemption policy.
Applications for nomination and registration submitted after the mandatory implementation phase:
The PQP is mandatory for applicants who submit an application for nomination or registration for Registered Employment Position with the start of the mandatory implementation phase, so that passing the technical and regulatory qualifications becomes one of the conditions for applying for the nomination or registration.
The Licensed Person shall, at the time of submitting the application for nomination or registration for Registered Employment Positions, provide the CMA with documents proving that they have met one of the following requirements as the case may be:
1. Certificate of passing the technical and regulatory qualifications according to the PQP table.
2. The nominated or registered person have met the requirement of the professional certificate or years of experience required for exemption from the technical qualification in accordance with the exemption policy.
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