Singapore legislation
Section 85
Section 85
Licence fee
(1)
The holder of a capital markets services licence must on a yearly basis on such date as the Authority may specify pay such licence fee for each regulated activity to which the licence relates as the Authority may prescribe.
(2)
Any licence fee paid to the Authority in respect of any regulated activity must not be refunded if —
the licence is revoked or suspended, or lapses during the period to which the licence fee relates;
[Deleted by Act 2 of 2009](c)the holder of a capital markets services licence ceases to carry on business in that regulated activity during the period to which the licence fee relates; or
a prohibition order has been made against the holder of a capital markets services licence under section 101A.
(3)
Subject to subsection (2), the Authority may, where it considers appropriate, refund the whole or part of any licence fee paid to it.
(4)
Where the holder of a capital markets services licence fails to pay the licence fee 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.