Singapore legislation

Clause 20

Amendment of section 104

Section 104 of the principal Act is amended —

(a)

by deleting paragraph (ab) of subsection (2) and substituting the following paragraph:“(ab)specifying, in the context of the granting of an unsecured advance, unsecured loan or unsecured credit facility by a licensed financial adviser to any officer, employee or representative of the licensed financial adviser, or any person related, in the manner prescribed by the regulations, to any such officer, employee or representative —

(i)

what constitutes any such unsecured advance, unsecured loan or unsecured credit facility; and

(ii)

the requirements and restrictions relating to any such grant;”; and

(b)

by inserting, immediately after paragraph (a) of subsection (4), the following paragraph:“(aa)may contain provisions of a savings or transitional nature;”.

Read in full context — Financial Advisers (Amendment) Bill →