Singapore legislation
Clause 13
Clause 13
Security to be lodged in respect of dealer’s licence
(1)
Except in the case of a dealer who is a stock broker, the Registrar shall not grant or renew a dealer’s licence unless there is lodged with him a security in the sum of thirty thousand dollars in respect of the licence.
(2)
A security required by subsection (1) of this section shall be by cash deposit or by such other method as the Registrar may in any particular case allow.
(3)
A security lodged under subsection (1) of this section shall be applied by the Registrar subject to and in accordance with the regulations made under this Act.