Singapore legislation
Section 61
Section 61
Prohibition against acting for financial adviser for prohibited businesses
(1)
An appointed representative or a provisional representative of a licensed financial adviser may only act (whether in Singapore or elsewhere) for the licensed financial adviser in respect of —
the business of providing any financial advisory service which the representative is appointed to provide and which is not prescribed under section 135, or specified by the Authority by written notice, to be a prohibited business; or
any business which its principal may conduct under section 60(1)(d) or (e) and which is not prescribed under section 135, or specified by the Authority by written notice, to be a prohibited business.
(2)
An appointed representative or a provisional representative of an exempt financial adviser may only act (whether in Singapore or elsewhere) for the exempt financial adviser in respect of —
the business of providing any financial advisory service which the representative is appointed to provide and which is not prescribed under section 135, or specified by the Authority by written notice, to be a prohibited business; or
any other business if —
the principal is satisfied that the conditions prescribed under section 135 for the purposes of this section are fulfilled; and
the business is not prescribed under section 135, or specified by the Authority by written notice, to be a prohibited business.
(3)
This section is not to be read as exempting an appointed representative or a provisional representative from any requirement which the appointed representative or provisional representative is required to comply with under any other written law for the conduct of any activity.
(4)
Any person who contravenes this section shall be guilty of an offence.
(5)
For the purposes of this section, a person acts for another in respect of any business whether or not the person does so under a contract of employment with the other.
(6)
A written notice issued under this section need not be published in the Gazette.[55B