Singapore legislation

Clause 24

of Securities and Futures (Amendment) Bill

Clause 24

Amendment of section 90

Section 90 of the principal Act is amended —

(a)

by deleting subsection (1) and substituting the following subsection:“(1) The Authority may, on the application of the holder of a capital markets services licence, vary its licence by adding a regulated activity to those already specified in the licence.”;

(b)

by deleting subsection (2) and substituting the following subsection:“(2) An application under subsection (1) shall be accompanied by a non-refundable prescribed application fee which shall be paid in the manner specified by the Authority.”;

(c)

by deleting subsection (2A);

(d)

by deleting the words “, 87(3) or 87A(10)” in subsection (3)(b); and

(e)

by deleting the word “licence” in the section heading and substituting the words “capital markets services licence”.

Read in full context — Securities and Futures (Amendment) Bill →