Singapore legislation
Regulation 5
Regulation 5
Security
Subregulation 1
The Commissioner may, before granting or renewing a licence, require the applicant to give a security deposit not exceeding $60,000 in such form as the Commissioner may allow.
Subregulation 2
The Commissioner may in his discretion, from time to time during the validity period of a licence and on the basis of the profile of the licensee as assessed by the Commissioner —
require the licensee to add to the amount of the security deposit to be given (which in any case shall not exceed in total $60,000) within such time as the Commissioner may specify; or
reduce the amount of security deposit given or required to be given by the licensee with effect from such date as the Commissioner may specify.
Subregulation 3
Every licensee who has been required by the Commissioner to add to the amount of security deposit to be given under paragraph (2)(a) shall comply with the requirement within such time as the Commissioner may specify.