ABC Insurance Services Ltd wishes to appoint Jack as its Chief Executive. The bank cannot offer Jack this position without prior written consent of which body?

• A. Director of Corporate Enforcement
• B. Central Bank
• C. District Court
• D. Registrar of Companies

Answer: (B)

Regulatory consent for senior management in financial institutions is required to ensure the person appointed to the top role meets standards of fitness and probity. When a bank or insurance company seeks to appoint someone as Chief Executive, the regulator typically must review and approve the appointment before it can proceed. This process protects customers and upholds governance standards by preventing unsuitable individuals from taking on leading positions. The Central Bank is the body that provides this written consent in many jurisdictions.

The other bodies listed don’t have this specific authority over senior management appointments in financial services: the Director of Corporate Enforcement enforces company law and compliance, the District Court handles legal disputes, and the Registrar of Companies handles company registration and filings.