Singapore legislation
Section 6
Section 6
Licence fee
(1)
Every licensed trust company must pay to the Authority such licence fee as may be prescribed.
(2)
Any licence fee paid to the Authority under this Act is not to be refunded or remitted if —
(a)
the licence is revoked or suspended or lapses during the period to which the licence fee relates; or
(b)
the licensed trust company ceases to carry on trust business during the period to which the licence fee relates.
(3)
Despite subsection (2), the Authority may, where it considers appropriate, refund or remit the whole or part of any licence fee paid to it.