Financial Advisers (Amendment) Act 2009 |
Financial Advisers (Representatives) (Transitional and Savings Provisions) Regulations 2010 |
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Citation and commencement |
1. These Regulations may be cited as the Financial Advisers (Representatives) (Transitional and Savings Provisions) Regulations 2010 and shall come into operation on 26th November 2010. |
Definitions |
2. In these Regulations, unless the context otherwise requires —
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Pending applications |
Return of licences to Authority |
4.—(1) Every licensed representative shall, no later than 14 days from 26th November 2010, return his licence to his principal.
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Licensed and exempt representatives deemed appointed representatives |
5.—(1) An individual who —
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Continuation and completion of proceedings |
6.—(1) Where, on 26th November 2010, any matter relating to any licensed representative was in the course of being heard or investigated by the Authority under section 19 of the Act in force immediately before that date, the Authority shall continue with the hearing or investigation as if that provision is still in force, and may make such order, ruling or direction as it could have made under the authority vested in it before that date.
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Previously exempt persons |
7.—(1) This regulation applies to an individual who, immediately before 26th November 2010, was a person exempt under regulation 2 of the revoked Financial Advisers (Exemption from Requirement to Hold Representative’s Licence) Regulations (Rg 5) (referred to in this regulation as the revoked Regulations) from the requirement to hold a representative’s licence under section 7(1) of the Act in force immediately before that date by virtue of his having —
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Made this 25th day of November 2010.
Managing Director, Monetary Authority of Singapore. |
[CMI 09/2008; AG/LLRD/SL/110/2002/2 Vol. 1] |
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