Singapore legislation
Clause 13
Clause 13
Grounds for declining to approve substantial shareholding, etc.
Approval under section 12(2)(a) or (b) may be refused, and a direction under section 12(2)(c) may be given, on the following grounds in particular:
(a)
the relevant person is a disqualified person; or
(b)
the relevant person has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the opinion of the Registrar, renders the person unfit to hold a licence.