Securities Markets Order, 2013 · s 158

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158.
Requirements for capital markets services representative's licence
(1)
No person shall act as a representative of any holder of capital markets services licence in respect of any regulated activity or activities or hold himself out as doing so unless he is the holder of a capital markets services representative's licence for that activity or activities.
(2)
Subsection (l) shall not apply-
(a) to any person who acts as a representative of a holder of a capital markets services licence, in so far as -
(i)
the type and scope of regulated activity carried out by the first-mentioned person are within the type and scope of, or are the
·same as, those conducted by the holder of a capital markets services licence; or
(ii) the way in which the first-mentioned person conducts the regulated activity referred to in subsection (1) is the same as the manner in which the holder of a capital markets services licence conducts the regulated activity; and
(b)
to any person or class of persons whom the Authority may exempt from holding a representative's licence in respect of any regulated activity.
(3)
Any person who contravenes this section is guilty of an offence and liable on conviction to a fine not exceeding $2,000,000, imprisonment for a term not exceeding 2 years or both.
Exemption from requirement to hold capital markets services licence.

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s 158Requirements for capital markets services representative's licence

(1)

No person shall act as a representative of any holder of capital markets services licence in respect of any regulated activity or activities or hold himself out as doing so unless he is the holder of a capital markets services representative's licence for that activity or activities.

(2)

Subsection (l) shall not apply-

(a)

to any person who acts as a representative of a holder of a capital markets services licence, in so far as -

(i)

the type and scope of regulated activity carried out by the first-mentioned person are within the type and scope of, or are the

·same as, those conducted by the holder of a capital markets services licence; or

(ii)

the way in which the first-mentioned person conducts the regulated activity referred to in subsection (1) is the same as the manner in which the holder of a capital markets services licence conducts the regulated activity; and

(b)

to any person or class of persons whom the Authority may exempt from holding a representative's licence in respect of any regulated activity.

(3)

Any person who contravenes this section is guilty of an offence and liable on conviction to a fine not exceeding $2,000,000, imprisonment for a term not exceeding 2 years or both.

Exemption from requirement to hold capital markets services licence.