Singapore legislation
Section 33
Section 33
Power of Authority to impose conditions or restrictions
(1)
The Authority may grant or renew a licence subject to such conditions or restrictions as it thinks fit and the Authority may, at any time by written notice to a licence holder, vary any condition or restriction or impose further conditions or restrictions.
(2)
Without limiting the generality of subsection (1), the Authority may in granting or renewing an investment adviser’s licence impose a condition or restriction as to the class or classes of business that an investment adviser may carry on, that is to say, the holder of an investment adviser’s licence may be subject to a condition or restriction that —
he shall only carry on the class of business of advising others concerning securities; or
he shall only carry on the class of business of issuing or promulgating analyses in reports concerning securities; or
he shall only carry on a class of business involving the management of a portfolio of securities on behalf of clients for investment purposes; or
he shall carry on any of the classes of business in paragraphs (a), (b) and (c) in combination with each other.
(3)
A person who contravenes or fails to comply with any condition of, or restriction in, his licence shall be guilty of an offence.