27. Representative to act for only one principal

Terms defined in s 2

• appointed representative

  appointed representative

  Defined · s 2

  “appointed representative”, in respect of a type of financial advisory service, has the meaning given to that expression by section 23, and “appointed representative” means an appointed representative in respect of any type of financial advisory service;

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• Authority

  Authority

  Defined · s 2

  “Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;

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• principal

  principal

  Defined · s 2

  “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;

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• provisional representative

  provisional representative

  Defined · s 2

  “provisional representative”, in respect of a type of financial advisory service, has the meaning given to that expression by section 24, and “provisional representative” means a provisional representative in respect of any type of financial advisory service;

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• representative

  representative

  Defined · s 2

  “representative” means a person, by whatever name called, in the direct employment of, or acting for, or by arrangement with, a financial adviser, who performs on behalf of the financial adviser any financial advisory service, whether or not the person is remunerated, and whether the person’s remuneration (if any) is by way of salary, wages, commission or otherwise, and includes any officer of the financial adviser who performs for the financial adviser any financial advisory service whether or not the officer is remunerated, and whether the officer’s remuneration (if any) is by way of salary, wages, commission or otherwise;

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