Singapore legislation
Regulation 6
Regulation 6
Fees
Subregulation 1
Subject to this regulation, the fees specified in the Second Schedule are payable to the Authority for the purposes specified therein.
Subregulation 2
Where —
the name of a person is entered in the public register of representatives as a provisional representative;
he pays the annual fee referred to in section 28(2) of the Act for the retention of his name in the public register of representatives as a provisional representative for a period of time; and
his name is subsequently entered in the register as an appointed representative at any time during that period or on the business day immediately following the expiry of that period,then the person is treated as having paid the annual fee for the continuing retention of his name in the register as an appointed representative, in respect of the financial advisory service provided by the person while he was a provisional representative.
Subregulation 3
For the purposes of sections 11(4) and 28(5) of the Act, the late payment fee is $100 for every day or part thereof that the payment is late subject to a maximum of $3,000.
Subregulation 4
Payment of fees may be made through such electronic funds transfer system as the Authority may designate from time to time, whereby payment is effected by directing the transfer of funds electronically from the bank account of the payer to a bank account designated by the Authority.
Subregulation 5
The Authority may, as it thinks fit, waive the whole or any part of any fee payable under section 7, 11, 12, 21 or 28 of the Act.