160. Grant or renewal of capital markets services licence or representative's licence

Subject to subsections (2) and (3), the Authority may grant or renew a capital markets service holder's licence or a representative's licence if it appears to the Authority that the applicant satisfies the licensing requirements applicable in his case under this Part and the Authority may make an order declaring the applicant to be the -

A licence is valid until 31st December of the year in which it was granted and is renewable on payment of the annual licence fee as determined by the Authority.

When a licence is first granted for a period of less than 6 months prior to 31st day of December/ the annual licence fee shall abate pro rata on a monthly basis.

In granting or renewing a licence, the Authority may

When a person would otherwise be guilty of an offence for not being the holder of a capital markets services licence or a representative's licence, no proceedings shall be instituted against him for the offence for the period from the expiration of that licence until the licence is renewed or his application for renewal is withdrawn or refused, if before the expiration of that licence, he has applied for renewal of that licence and he complies with the requirements of this

Any person who contravenes any condition or restriction may be subject to such intervention action as the Authority thinks fit under its powers in