Singapore legislation
Clause 2
Clause 2
Amendment of section 2
Section 2(1) of the Financial Advisers Act (referred to in this Act as the principal Act) is amended —
(a)
by deleting the words “section 130A” in the definition of “advocate and solicitor” and substituting the words “section 2(1)”; and
(b)
by deleting the definition of “principal” and substituting the following definition:“ “principal”, in relation to a representative, means a person whom the representative is in the direct employment of, is acting for or is acting by arrangement with, and on behalf of whom the representative provides or will provide any financial advisory service;”.