Singapore legislation

Clause 10

of Securities Industry Bill

Clause 10

Registrar to grant or renew dealer’s licence in certain circumstances

The Registrar shall grant or renew a dealer’s licence if —

(a)

after consideration —

(i)

where the applicant is an individual — of the character and financial position of the applicant; or

(ii)

where the applicant is a corporation — of the character of the directors and the secretary of the corporation and of the corporation’s financial position; and

(b)

after consideration of the interests of the public,he is of the opinion that the applicant is a fit and proper person to hold the licence applied for.