—(1) For the purposes of this Act, a temporary representative in respect of a type of regulated activity is an individual —
who satisfies such entry requirements as may be specified by the Authority for that type of regulated activity;
whose name is entered in the public register of representatives as a temporary representative;
whose status as a temporary representative has not currently been revoked or suspended and who has not currently been prohibited by the Authority from carrying on business in that type of regulated activity;
whose entry in the public register of representatives indicates that he is appointed to carry on business in that type of regulated activity and does not indicate that he has ceased to be so;
whose principal —
is licensed to carry on business in that type of regulated activity; or
carries on business in that type of regulated activity in its capacity as a person exempted from the requirement to hold a capital markets services licence under section 99(1)(a), (b), (c) or (d); and
who is not, by virtue of any circumstances prescribed by the Authority, disqualified from acting as a temporary representative.
(2) An individual shall only be a temporary representative in respect of any type of regulated activity for such period of time as the Authority may specify against his name in the public register of representatives.
(3) A temporary representative in respect of any type of regulated activity shall immediately cease to be one —
upon the expiry of the period of time specified by the Authority under subsection (2);
if he fails to comply with any condition or restriction imposed on him under section 99N; or
on the occurrence of such other circumstances as the Authority may prescribe.
(4) Section 99D(3) to (8) (other than subsection (4)(e) thereof) shall apply to a temporary representative —
as if the reference in section 99D(6) to section 99D(1) were a reference to subsection (1); and
with such other modifications and adaptations as the differences between temporary representatives and appointed representatives require.