Singapore legislation
Regulation 20
Regulation 20
Duty to notify change in place of business
Subregulation 1
A registered dealer must, at least 14 days before starting to carry out any regulated activity at any place not specified in the application for registration or renewal of registration, notify the Registrar of that place of business at which the registered dealer intends to carry on that regulated activity.
Subregulation 2
The registered dealer must, at least 14 days before ceasing to carry out any regulated activity at any place of business, notify the Registrar of that place of business the registered dealer intends to cease carrying on that regulated activity.
Subregulation 3
Paragraph (2) does not apply if the registered dealer’s cessation of the regulated activity is due to —
where the registered dealer is a company or a limited liability partnership, the registered dealer being wound up or otherwise dissolved, whether in Singapore or elsewhere; (b)the registered dealer’s registration being cancelled under section 10 of the Act; or
the registered dealer’s registration expiring without having been renewed.
Subregulation 4
A registered dealer who, without reasonable excuse, fails to comply with paragraph (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.
Subregulation 5
This regulation does not apply in relation to any place of business of a registered dealer which is in excess of the maximum number of places of business at which the registered dealer is authorised under its registration to act or hold out to be a regulated dealer.