Clause 36

An individual may apply to the Authority in such form and manner as the Authority may prescribe for a temporary representative’s licence to act as a representative to carry on business in one or more regulated activities.(2) The Authority may require an applicant to supply the Authority with such further information as it considers necessary in relation to the application.(3) An application for the grant of a temporary representative’s licence shall be accompanied by a non-refundable prescribed application fee which shall be paid in the manner specified by the Authority. (4) An application for the grant of a temporary representative’s licence in respect of any regulated activity shall be supported in the prescribed manner by a holder of a capital markets services licence for that regulated activity.(5) An application for the grant of a temporary representative’s licence in respect of any regulated activity shall be deemed to be withdrawn with effect from the date the holder of a capital markets services licence which supported the application withdraws its support in writing.(6) The Authority shall not grant a temporary representative’s licence to any applicant —

if the applicant has held a temporary representative’s licence for a period which exceeds, or for periods which together exceed, the prescribed number of months within the prescribed period; or

if the holder of a capital markets services licence which supported the application fails to furnish to the Authority, in respect of any regulated activity to be carried out by the applicant for the holder, an undertaking in such form and manner as may be prescribed by the Authority.(7) In granting a temporary representative’s licence, the Authority —

shall specify the regulated activity or activities to which the licence relates, described in such manner as the Authority considers appropriate; and

shall relate the licence to the holder of a capital markets services licence which supported that application for a temporary representative’s licence.(8) A temporary representative’s licence shall be in force for a period of 3 months from the date of its issue under this Act, or such other period as the Authority may specify in writing to the holder of the temporary representative’s licence.(9) A temporary representative’s licence shall not be renewable.(10) Subject to regulations made under this Act, the Authority may refuse an application for the grant of a temporary representative’s licence on any of the grounds referred to in section 87(3)(a) to (n).(11) Subject to subsection (12), the Authority shall not refuse an application for the grant of a temporary representative’s licence without giving the applicant an opportunity to be heard.(12) The Authority may refuse an application for the grant of a temporary representative’s licence on any of the following grounds without giving the applicant an opportunity to be heard:

the applicant is an undischarged bankrupt, whether in Singapore or elsewhere;

the applicant has been convicted, whether in Singapore or elsewhere, of an offence —

involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and

punishable with imprisonment for a term of 3 months or more.”.