Singapore legislation

Section 28

of Financial Advisers Act 2001

Section 28

Lodgment and annual fees

Amended by1/20091/20091/20091/20091/20091/2009

(1)

An individual must, by the prescribed time, pay to the Authority such fee as may be prescribed by the Authority for the lodgment of documents under section 26 by the individual’s principal in relation to the individual’s appointment as an appointed or provisional representative.

Amended by1/2009

(2)

An individual who is an appointed or provisional representative must, by the prescribed time each year, pay such annual fee as may be prescribed by the Authority in relation to the retention of the individual’s name in the public register of representatives as an appointed or provisional representative.

Amended by1/2009

(3)

A representative must pay such fee as may be prescribed by the Authority for any resubmission of a form or change in the particulars of a form lodged with the Authority in relation to his or her appointment as an appointed or provisional representative.

Amended by1/2009

(4)

Unless otherwise prescribed by the Authority, any fee paid to the Authority under this section must not be refunded.

Amended by1/2009

(5)

Where the representative fails to pay the fee mentioned in subsection (1) or (2) by the date on which such fee is due, the Authority may impose a late payment fee of a prescribed amount for every day or part of a day that the payment is late and both fees are recoverable by the Authority as a judgment debt.

Amended by1/2009

(6)

The fees mentioned in this section must be paid in the manner specified by the Authority.[23H

Amended by1/2009