Singapore legislation
Regulation 4B
Regulation 4B
Provisional representative
Subregulation 1
The period which the Authority may specify in the public register of representatives under section 24(2) of the Act as the period which any named individual can be a provisional representative in respect of any type of financial advisory service shall not exceed 3 months from the date his name is entered in the register as a provisional representative.
Subregulation 2
For the purposes of section 24(5) of the Act, where a provisional representative in respect of a type of financial advisory service has satisfied the examination requirements specified for that type of financial advisory service, his principal shall inform the Authority of that fact by serving on the Authority —
a duly completed Form 3D; and
before the expiry of the period specified against his name in the public register of representatives under section 24(2) of the Act.
Subregulation 3
For the purposes of section 30(1)(t)(i) and (ii) of the Act, the Authority may refuse to enter the name and other particulars of an individual in the public register of representatives as a provisional representative in respect of a type of financial advisory service if —
he is not or was not previously licensed, authorised or otherwise regulated as a representative in relation to a comparable type of financial advisory service in a foreign jurisdiction for a continuous period of at least 12 months; or
the period between the date of his ceasing to be so licensed, authorised or regulated in a foreign jurisdiction and the date of his proposed appointment as a provisional representative exceeds 12 months.