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bruneilawsby aturio
In forceAs enacted
Contents

Part VII · Capital Markets Services Licence and Representative'S Licence

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.

Report

Read on from s 159

Part VIII

Books, Audit and Client'S Assets

Part IX

Read on from Part IX

Part X

Intervention Powers of Authority

Read on from Part X

Part XI

Complaints Committee and Investor Compensation Scheme

Read on from Part XI

Part XII

Financial Markets Services Panel

Read on from Part XII

Part XIII

General

Read on from Part XIII