Clause 18
Amendment of section 99H
of Securities and Futures (Amendment) Bill
BillNot in forceProvision 18 of 97
Clause 18
Section 99H of the principal Act is amended by inserting, immediately after subsection (1), the following subsection:“(1A) Subsection (1) shall not apply to a principal who desires to appoint, as an appointed representative in respect of any type of regulated activity, an individual who is a provisional representative in respect of that type of regulated activity, if —
(a)
that individual has satisfied the examination requirements specified for that type of regulated activity; and
(b)
the principal has informed the Authority of that fact in the prescribed form and manner under section 99E(5).”.