Clause 4
Amendment of section 7
of Financial Advisers (Amendment) Bill
BillNot in forceProvision 4 of 34
Clause 4
Section 7 of the principal Act is amended by deleting subsection (1) and substituting the following subsection:“(1) No person shall act as or hold himself out to be a representative unless —
(a)
he is an individual; and
(b)
he holds a representative’s licence or is a representative of an exempt financial adviser.”.