Clause 90
Variation of licence
of Securities and Futures Bill
BillNot in forceProvision 111 of 348
Clause 90
(1)
The Authority may, on the application of a licensed person, vary its licence by adding a regulated activity to those already specified in the licence.
(2)
An application referred to in subsection (1) shall be accompanied by a non-refundable prescribed application fee which shall be paid in the manner specified by the Authority.
(3)
The Authority may —
(a)
approve the application subject to such conditions or restrictions as the Authority thinks fit; or
(b)
refuse the application on any of the grounds set out in section 86(4) or 87(3).