Singapore legislation
Clause 17
Clause 17
Grace period for licensing
Notwithstanding anything in this Act, every person who immediately before the date of commencement of the Commodity Futures (Amendment) Act 2001 had been carrying on business as a commodity broker, a spot commodity broker, a commodity broker’s representative, a commodity trading adviser, a commodity trading adviser’s representative, a commodity pool operator, a commodity pool operator’s representative, a spot commodity broker’s representative, a spot commodity pool operator or a spot commodity pool operator’s representative, shall be entitled to carry on such business as if this Act had not been enacted —
for a period of one month from that date; and
if, before the expiry of that period he applies for a licence under the principal Act, until the date on which he obtains the licence or the date on which his application is refused or withdrawn.