Section 2

In this Act, unless the context otherwise requires —

“advocate and solicitor” means an advocate and solicitor of the Supreme Court or a foreign lawyer as defined in section 2(1) of the Legal Profession Act 1966;

“appointed representative”, in respect of a type of financial advisory service, has the meaning given to that expression by section 23, and “appointed representative” means an appointed representative in respect of any type of financial advisory service;

“approved exchange” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“approved holding company” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“auditor” means a public accountant who is registered or deemed to be registered under the Accountants Act 2004;

“Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;

“book” includes any record, register, document or other record of information and any account or accounting record, however compiled, recorded or stored, whether in written or printed form or on microfilm or by electronic process or otherwise;

“capital markets products” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“collective investment scheme” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“commodity” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“company” has the meaning given by section 4(1) of the Companies Act 1967;

“connected person”, in relation to —

“corporation” has the meaning given by section 4(1) of the Companies Act 1967;

“dealing in capital markets products” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“director” has the meaning given by section 4(1) of the Companies Act 1967;

“exempt financial adviser” means a financial adviser who is exempt under section 20(1) from holding a financial adviser’s licence;

“financial adviser” means a person who carries on a business of providing any financial advisory service, but does not include any person specified in the First Schedule;

“financial adviser’s licence” means a licence granted under section 10 in respect of a financial adviser, and “licensed financial adviser” is to be construed accordingly;

“financial advisory service” means all or any of the services specified in the Second Schedule;

“financial journalist” means a person who contributes advice concerning specified products, or prepares analyses or reports concerning specified products, for publication in a newspaper, but does not include such person or a person belonging to such class of persons as may be prescribed;

“financial year” has the meaning given by section 4(1) of the Companies Act 1967;

“firm” has the meaning given by section 2(1) of the Business Names Registration Act 2014;

“futures contract” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“independent sales audit unit”, in relation to a licensed financial adviser, means a unit of the licensed financial adviser which —

“investment product” means —

“leveraged foreign exchange trading” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“licensed insurer” means an insurer who is for the time being licensed under section 11 of the Insurance Act 1966;

“life policy” has the meaning given by the First Schedule to the Insurance Act 1966, but does not include any contract of reinsurance;

“limited liability partnership” has the meaning given by section 2(1) of the Limited Liability Partnerships Act 2005;

“manager” and “partner”, in relation to a limited liability partnership, have the respective meanings given by section 2(1) of the Limited Liability Partnerships Act 2005;

“newspaper” has the meaning given by section 2(1) of the Newspaper and Printing Presses Act 1974;

“officer” has the meaning given by section 4(1) of the Companies Act 1967;

“organised market” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“prescribed written law” means this Act, or any of the following written laws and any subsidiary legislation made thereunder:

“principal”, in relation to a representative, means a person whom the representative is in the direct employment of, is acting for or is acting by arrangement with, and on behalf of whom the representative provides or will provide any financial advisory service;

“provisional representative”, in respect of a type of financial advisory service, has the meaning given to that expression by section 24, and “provisional representative” means a provisional representative in respect of any type of financial advisory service;

“public register of representatives” means the register of that name under section 73(3);

“recognised market operator” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“record” means information that is inscribed, stored or otherwise fixed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;

“related corporation” has the meaning given by section 4(1) of the Companies Act 1967;

“representative” means a person, by whatever name called, in the direct employment of, or acting for, or by arrangement with, a financial adviser, who performs on behalf of the financial adviser any financial advisory service, whether or not the person is remunerated, and whether the person’s remuneration (if any) is by way of salary, wages, commission or otherwise, and includes any officer of the financial adviser who performs for the financial adviser any financial advisory service whether or not the officer is remunerated, and whether the officer’s remuneration (if any) is by way of salary, wages, commission or otherwise;

“securities” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“securities-based derivatives contract” has the meaning given by section 2(1) of the Securities and Futures Act 2001;

“share” has the meaning given by section 4(1) of the Companies Act 1967;

“specified products” means securities, specified securities‑based derivatives contracts or units in a collective investment scheme;

“specified securities-based derivatives contract” and “spot foreign exchange contract” have the meanings given by section 2(1) of the Securities and Futures Act 2001;

“substantial shareholder” has the meaning given by section 2(6) of the Securities and Futures Act 2001;

“supervisor”, in relation to a financial adviser, means any person (by whatever name described) who —

“unit” means a group of individuals carrying out a common activity of a licensed financial adviser, each of whom is directly employed by, is acting for, or has an arrangement with the licensed financial adviser;

“unit in a collective investment scheme” or “units in a collective investment scheme” has the meaning given by “unit” in section 2(1) of the Securities and Futures Act 2001;

“voting share” has the meaning given by section 4(1) of the Companies Act 1967;

“written direction” means a written direction issued under section 67.

The definitions in the First Schedule to the Insurance Act 1966 have effect for the construction of references to life policies in this Act.