Clause 19

by deleting the words “or 100” in subsection (1)(c);

by deleting sub-paragraph (i) of subsection (2)(a) and substituting the following sub-paragraph:“(i)the standards to be maintained by —

a licensee;

any person exempt under section 23 or 100; or

any representative of a person exempt under section 23,in the conduct of his business, including the provision of any financial advisory service to any person outside Singapore and the duties to be undertaken when making recommendations to clients in respect of investment products;”; and

by deleting the words “or to imprisonment for a term not exceeding 12 months or to both” in subsection (5).