Singapore legislation
Regulation 3
Regulation 3
Grant of licence
Amended byS 714/2010 wef 26/11/2010
For the purposes of section 86(3) of the Act, the Authority shall not grant a licence to a corporation unless at the time of such grant —
(a)
where the corporation is incorporated in Singapore, its base capital; or
(b)
where the corporation is a foreign company, its net head office funds,is not less than —
(i)
the base capital requirement applicable to the corporation under the First Schedule; or
(ii)
such other requirement as the Authority may approve as appropriate having regard to the operations of the corporation.