18.—(1) An approved insurance broker shall prepare and lodge with the Authority, within 6 months from the end of each financial year or within such longer period as the Authority may allow, a statement —
(a)
in the form set out in the Second Schedule giving particulars as to the placement of business handled during that financial year for each type of insurance broking business in respect of which it is approved; and
(b)
based on the annual audited financial statements of the approved insurance broker of that financial year.
(2) The statement to be lodged by an approved insurance broker under paragraph (1) shall be —
(a)
signed by —
(i)
2 of its directors; and
(ii)
its chief executive officer; and
(b)
accompanied by a copy of the annual audited report on which the statement is based.
(3) Where any audited report referred to in paragraph (2)(b) is in a language other than English, the copy required by that paragraph shall be in English and shall be certified to be a true translation of the original by the translator.
(4) In this regulation, “chief executive officer” means any person, by whatever name described, who is —
(a)
in the direct employment of, or acting for, or by arrangement with an approved insurance broker; and
(b)
directly responsible for the conduct of any type of business of the approved insurance broker.