Singapore legislation
Clause 14
Clause 14
Licence fees
(1)
Every licensee shall pay to the Authority such licence fees as may be prescribed.
(2)
Any licence fee paid to the Authority under this Act shall not be refunded or remitted if —
during the period to which the licence fee relates, the licence is revoked or suspended or lapses under section 19;
the licence fee is paid in relation to an application for the renewal of a licence and such application is withdrawn after the date on which, but for its renewal, the licence would have expired; (c)during the period to which the licence fee relates, the licensee fails or ceases to provide any financial advisory service; or
a prohibition order has been made against the licensee under section 59.
(3)
Subject to subsection (2), the Authority may, where it considers appropriate, refund or remit the whole or part of any licence fee paid to it.