Singapore legislation
Clause 8
Clause 8
Application for grant or renewal of licence
(1)
An application for the grant or renewal of a licence shall be —
made to the Authority in such form and manner as may be prescribed; (b)in the case of an application for the renewal of a licence, made not later than one month or such other period before the expiry of the licence (referred to in this section as the late renewal period) as the Authority may prescribe; and
accompanied by a non-refundable application fee of a prescribed amount, which shall be paid in the prescribed manner.
(2)
The Authority may require an applicant to furnish it with such information or documents as it considers necessary in relation to the application.
(3)
An application for the grant or renewal of a representative’s licence shall be supported by a person who is, or who has submitted an application to be, a licensed financial adviser.
(4)
An application for the grant of a representative’s licence shall be deemed to be withdrawn with effect from the date on which the person who supported the application —
withdraws his support in writing;
withdraws his application for a financial adviser’s licence; or
has his application for a financial adviser’s licence refused by the Authority.
(5)
An application for the renewal of a representative’s licence shall be deemed to be withdrawn with effect from the date on which the person who supported the application withdraws his support in writing.
(6)
Where a person submits an application for the renewal of his licence before the late renewal period, the licence shall continue in force until the date on which the licence is renewed or the application for its renewal is refused, as the case may be.
(7)
Where a person submits an application for the renewal of his licence during the late renewal period, the Authority may impose a late renewal fee not exceeding $100 for every day or part thereof that the application for renewal is late, subject to a maximum of $3,000.