Financial Advisers Regulations - Singapore Statutes Online

Financial Advisers Act

(CHAPTER 110, Sections 6(3), 8, 9, 14, 16(2), 18, 19(1), 23, 24, 28, 32, 36(7), 39, 45, 48(1), 56, 57, 63, 94, 100 and 104)

Financial Advisers Regulations

Rg 2

G.N. No. S 462/2002

REVISED EDITION 2004

(29th February 2004)

[1st October 2002]

PART I

PRELIMINARY

Citation

1. These Regulations may be cited as the Financial Advisers Regulations.

Definitions

2.—(1) In these Regulations, unless the context otherwise requires —

“accredited investor” has the same meaning as in section 4A(1)(a) of the Securities and Futures Act (Cap. 289);

[S 362/2005 wef 01/07/2005]

[S 274/2008 wef 28/05/2008]

“advertisement” means the dissemination or conveyance of information, or an invitation or solicitation, by any means or in any form, including by means of —

(a)	publication in a newspaper, magazine, journal or other periodical;
(b)	display of posters or notices;
(c)	circulars, handbills, brochures, pamphlets, books or other documents;
(d)	letters addressed to individuals or bodies corporate or unincorporate;
(e)	photographs or cinematograph films; or
(f)	sound broadcasting, television, the Internet or other media;

“bonds” includes —

(a)	any note, bond or Treasury Bill;
(b)	an option in respect of any note, bond or Treasury Bill; and
(c)	such other securities or class of securities as the Authority may from time to time, by a guideline issued by the Authority, determine;

“capital markets products” has the same meaning as in section 2(1) of the Securities and Futures Act (Cap. 289);

“client’s money or property” has the same meaning as in section 28(4) of the Act;

“entity” includes a corporation, an unincorporated association, a partnership and the government of any state, but does not include a trust;

[S 362/2005 wef 01/07/2005]

“expert investor” has the same meaning as in section 4A(1)(b) of the Securities and Futures Act;

[S 362/2005 wef 01/07/2005]

[S 274/2008 wef 28/05/2008]

“foreign company” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);

“foreign exchange trading” has the same meaning as in section 2(1) of the Securities and Futures Act;

“Government securities” means securities issued or proposed to be issued by the Government, and includes —

(a)	any debenture, stock or bond issued or proposed to be issued by the Government;
(b)	any right or option in respect of any debenture, stock or bond referred to in paragraph (a);
(c)	any book-entry Government securities as defined in section 2 of the Development Loan (1987) Act (Cap. 81A) or section 2 of the Government Securities Act (Cap. 121A); and
(d)	any book-entry Treasury Bill as defined in section 2 of the Local Treasury Bills Act (Cap. 167);

“guideline issued by the Authority” means a guideline or other document issued by the Authority under section 64 of the Act;

“institutional investor” has the same meaning as in section 4A(1)(c) of the Securities and Futures Act (Cap. 289);

[S 362/2005 wef 01/07/2005]

[S 274/2008 wef 28/05/2008]

“net asset value”, in relation to a corporation, means the excess of the value of the assets owned by the corporation over its liabilities;

“net head office funds”, in relation to a foreign company, means the net liability of the Singapore branch of that foreign company to its head office and any other branch outside of Singapore;

“paid-up capital” means ordinary shares and non-redeemable preference shares that have been fully paid for;

[S 383/2012 wef 07/08/2012]

“Registered Fund Management Company” means a corporation which is exempted from holding a capital markets services licence under paragraph 5(1)(i) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations (Cap. 289, Rg 10);

[S 383/2012 wef 07/08/2012]

[S 586/2017 wef 20/10/2017]

“venture capital fund” has the same meaning as in regulation 14(8) of the Securities and Futures (Licensing and Conduct of Business) Regulations (Cap. 289, Rg 10);

[S 586/2017 wef 20/10/2017]

“venture capital fund manager” means a holder of a capital markets services licence for fund management under the Securities and Futures Act (Cap. 289) who does not carry on business in any regulated activity (as defined in that Act) other than the management of portfolios of securities on behalf of venture capital funds.

[S 586/2017 wef 20/10/2017]

(2) For the purposes of the definition of “net asset value” in paragraph (1) —

(a)

in determining the value of the assets owned by a corporation, any amount on account of goodwill or of any other intangible assets shall be disregarded; and

(b)

in determining the amount of the liabilities of a corporation —

(i)	all contingent or prospective liabilities shall be taken into account; and
(ii)	any amount on account of any liability related to the share capital of the corporation shall not be taken into account.

[G.N. Nos. S 462/2002; S 83/2003; S 537/2003]

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