Singapore legislation

Regulation 7

Prescribed financial requirements under section 138(3)(e) of Act

For the purposes of section 138(3)(e) of the Act, the prescribed financial requirements are as follows:

(a)

if the applicant is an individual — maintaining with the Authority security in the form of a cash deposit of at least $250,000;

(b)

if the applicant is a company — a base capital of at least $250,000;

(c)

if the applicant is a partnership or limited liability partnership — a total capital contribution of at least $250,000.