Singapore legislation
Clause 4
Clause 4
Amendment of section 23F
Section 23F of the principal Act is amended —
(a)
by inserting, immediately after subsection (1), the following subsection:“(1A) Subsection (1) shall not apply to a principal who desires to appoint, as an appointed representative in respect of any type of financial advisory service, an individual who is a provisional representative in respect of that type of financial advisory service, if —
(a)
that individual has satisfied the examination requirements specified for that type of financial advisory service; and
(b)
the principal has informed the Authority of that fact in the prescribed form and manner under section 23D(5).”; and
(b)
by deleting the words “or (5)” in subsection (6).