Singapore legislation

Clause 5

Amendment of section 8

Section 8 of the principal Act is amended —

(a)

by deleting subsection (1) and substituting the following subsection:“(1) An application for the grant of a financial adviser’s licence shall be —

(a)

made to the Authority in such form and manner as may be prescribed; and

(b)

accompanied by a non-refundable application fee of a prescribed amount, which shall be paid in the manner specified by the Authority.”;

(b)

by deleting subsections (3) to (7); and

(c)

by deleting the words “or renewal of licence” in the section heading and substituting the words “of financial adviser’s licence”.