Singapore legislation

Clause 28

of Securities Industry Bill

Clause 28

Applications for licence or renewal

(1)

An application for a licence or for the renewal of a licence shall be made to the Authority in the prescribed form and manner and shall be accompanied by the prescribed fee (which shall be paid in the manner specified by the Authority) and, in the case of an application for renewal of a licence, shall be made not later than one month before the expiry of the licence.

(2)

The Authority may require an applicant to supply it with such further information as it considers necessary in relation to the application.

(3)

The Authority shall not refuse to grant or renew a licence without first giving the applicant or the holder of a licence an opportunity of being heard.

(4)

Where the Authority rejects an application for a licence or the renewal of a licence, the prescribed fee shall be refundable to the applicant but the prescribed fee shall not be refundable on the withdrawal of an application.