Singapore legislation

Section 99J

of Securities and Futures Act 2001

Section 99J

Representative to act for only one principal

Amended by2/20092/20092/20092/2009

(1)

Unless otherwise approved by the Authority in writing, no appointed representative, temporary representative or provisional representative may at any one time be a representative of more than one principal.

Amended by2/2009

(2)

Despite subsection (1), an appointed representative may be a representative of more than one principal if the principals are related corporations.

Amended by2/2009

(3)

The Authority may require an applicant for approval under subsection (1) to provide it with such information or documents as the Authority considers necessary in relation to the application.

Amended by2/2009

(4)

Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.

Amended by2/2009