Clause 9
Amendment of section 13
of Futures Trading (Amendment) Bill
BillNot in forceProvision 9 of 38
Clause 9
Section 13 of the principal Act is amended —
(a)
by deleting the words “within one month” in the fifth line of subsection (1), and substituting the words “not later than one month”; and
(b)
by inserting, immediately after subsection (3), the following subsections:“(4) Where the Authority rejects an application for a licence or the renewal of a licence, the prescribed fee shall be refunded to the applicant but if the application is not rejected, the prescribed fee shall be payable notwithstanding the withdrawal of an application.
(5)
The Authority may determine the method or manner of payment of the licence fee referred to in subsection (1).”.