In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Trust Companies Act 2005 · 2020 Revised Edition · Part 2 · Licensing of Trust Companies
6. Licence fee
Feedback & support(1)
Every licensed trust company must pay to the Authority such licence fee as may be prescribed.
licensed trust company
Defined · s 2
“licensed trust company” means a corporation holding a trust business licence;
(2)
Any licence fee paid to the Authority under this Act is not to be refunded or remitted if —
(a)
the licence is revoked or suspended or lapses during the period to which the licence fee relates; or
(b)
the licensed trust company ceases to carry on trust business during the period to which the licence fee relates.
(3)
Despite subsection (2), the Authority may, where it considers appropriate, refund or remit the whole or part of any licence fee paid to it.