On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 23/02/2009.
36. The principal Act is amended by inserting, immediately after section 99A, the following Division and sections:
99B.
—(1) No person shall act as a representative in respect of any type of regulated activity or hold himself out as doing so, unless he is —
(a)
an appointed representative in respect of that type of regulated activity;
(b)
a provisional representative in respect of that type of regulated activity;
(c)
a temporary representative in respect of that type of regulated activity; or
(d)
a representative of an exempt person under section 99(1)(f), (g) or (h), in so far as —
(i)
the type and scope of the regulated activity carried out by the first-mentioned person are within the type and scope of, or are the same as, that carried out by the exempt person (in his capacity as an exempt person); and
(ii)
the manner in which the first-mentioned person carries out that type of regulated activity is the same as the manner in which the exempt person (in his capacity as an exempt person) carries out that type of regulated activity.
(2) The Authority may exempt any person or class of persons from subsection (1), subject to such conditions or restrictions as may be imposed by the Authority.
(3) A principal shall not permit any individual to carry on business in any type of regulated activity on its behalf unless —
(a)
the individual is an appointed representative, provisional representative or temporary representative in respect of that type of regulated activity; or
(b)
the principal is an exempt person under section 99(1)(f), (g) or (h) and —
(i)
the type and scope of the regulated activity carried out by the individual are within the type and scope of, or are the same as, that carried out by the exempt person (in his capacity as an exempt person); and
(ii)
the manner in which the individual carries out that type of regulated activity is the same as the manner in which the exempt person (in his capacity as an exempt person) carries out that type of regulated activity.
(4) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.
(5) Any person who contravenes subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.
99C.
—(1) The Authority shall keep in such form as it thinks fit records of the following information of each appointed representative, provisional representative and temporary representative:
(a)
his name;
(b)
the name of his current principal and every past principal (if any);
(c)
the current and past types of regulated activities performed by him and the date of commencement and cessation (if any) of his performance of such activities;
(d)
where the business of the principal for which he acts is carried on under a name or style other than the name of the principal, the name or style under which the business is carried on;
(e)
disciplinary proceedings or other action taken by the Authority against him and published under section 322;
(f)
such other information as may be prescribed.
(2) The information referred to in subsection (1) need only be kept for such period of time as the Authority considers appropriate.
(3) The Authority may reproduce the records referred to in subsection (1) or any part of them in a public register of representatives which shall be published in such manner as it considers appropriate.
99D.
—(1) For the purposes of this Act, an appointed representative in respect of a type of regulated activity is an individual —
(a)
who satisfies such entry and examination requirements as may be specified by the Authority for that type of regulated activity, the fact of which has been notified to the Authority either in the document lodged under section 99H(1), or (if applicable) under section 99E(5) within the time prescribed under that provision;
(b)
whose name is entered in the public register of representatives as an appointed representative;
(c)
whose status as an appointed representative has not currently been revoked or suspended and who has not currently been prohibited by the Authority from carrying on business in that type of regulated activity;
(d)
whose entry in the public register of representatives indicates that he is appointed to carry on business in that type of regulated activity and does not indicate that he has ceased to be so; and
(e)
whose principal —
(i)
is licensed to carry on business in that type of regulated activity; or
(ii)
carries on business in that type of regulated activity in its capacity as a person exempted from the requirement to hold a capital markets services licence under section 99(1)( a), (b), (c) or (d).
(2) For the purpose of subsection (1)(a), the Authority shall, by direction published in such manner as may be prescribed, specify the examination requirements for each type of regulated activity.
(3) The Authority may require the principal or individual to furnish it with such information or documents as the Authority considers necessary in relation to the proposed appointment of the individual as an appointed representative, and the principal or individual, as the case may be, shall comply with such a request.
(4) An individual shall cease to be an appointed representative in respect of any type of regulated activity on the date —
(a)
he ceases to be the principal’s representative or to carry out that type of regulated activity for that principal, the fact of which has been notified to the Authority under subsection (8);
(b)
his principal ceases to carry on business in that type of regulated activity;
(c)
the licence of his principal is revoked or lapses or a prohibition order under section 101A is made against his principal prohibiting it from carrying out that type of regulated activity;
(d)
the individual dies; or
(e)
of the occurrence of such other circumstances as the Authority may prescribe.
(5) An individual shall not be treated as an appointed representative during the period in which the licence of his principal is suspended.
(6) Nothing in subsection (4) or (5) prevents the individual from being treated as an appointed representative in respect of that type of regulated activity if he becomes a representative of a new principal in respect of that type of regulated activity and subsection (1) is complied with.
(7) Subsections (4) and (5) shall not operate so as to —
(a)
avoid or affect any agreement, transaction or arrangement relating to that type of regulated activity entered into by that individual, whether the agreement, transaction or arrangement was entered into before, on or after the cessation or date of suspension; or
(b)
affect any right, obligation or liability arising under any such agreement, transaction or arrangement.
(8) A principal shall, no later than the next business day after the day —
(a)
an individual ceases to be his representative; or
(b)
an individual who is his representative ceases to carry on business in any type of regulated activity which he is appointed to carry on business in,
furnish particulars of such cessation to the Authority, in the prescribed form and manner.
99E.
—(1) For the purposes of this Act, a provisional representative in respect of a type of regulated activity is an individual —
(a)
who satisfies such entry requirements as may be specified by the Authority for that type of regulated activity;
(b)
who intends to undergo an examination in order to satisfy the examination requirements specified by the Authority under section 99D(2) for that type of regulated activity, the fact of which has been notified to the Authority in the document lodged under section 99H(1);
(c)
whose name is entered in the public register of representatives as a provisional representative;
(d)
whose status as a provisional representative has not currently been revoked or suspended and who has not currently been prohibited by the Authority from carrying on business in that type of regulated activity;
(e)
whose entry in the public register of representatives indicates that he is appointed to carry on business in that type of regulated activity and does not indicate that he has ceased to be so;
(f)
whose principal —
(i)
is licensed to carry on business in that type of regulated activity; or
(ii)
carries on business in that type of regulated activity in its capacity as a person exempted from the requirement to hold a capital markets services licence under section 99(1)( a), (b), (c) or (d);
(g)
who has not previously been appointed as a provisional representative by the Authority; and
(h)
who is not, by virtue of any circumstances prescribed by the Authority, disqualified from acting as a provisional representative.
(2) An individual shall only be a provisional representative in respect of any type of regulated activity for such period of time as the Authority may specify against his name in the public register of representatives.
(3) A provisional representative in respect of any type of regulated activity shall immediately cease to be one —
(a)
upon the expiry of the period of time specified by the Authority under subsection (2);
(b)
if he fails to comply with any condition or restriction imposed on him under section 99N;
(c)
upon his principal informing the Authority of the satisfaction of the examination requirements specified for that or any other type of regulated activity under subsection (5); or
(d)
on the occurrence of such other circumstances as the Authority may prescribe.
(4) Section 99D(3) to (8) (other than subsection (4)(e) thereof) shall apply to a provisional representative —
(a)
as if the reference in section 99D(6) to section 99D(1) were a reference to subsection (1); and
(b)
with such other modifications and adaptations as the differences between provisional representatives and appointed representatives require.
(5) Where a provisional representative in respect of a type of regulated activity has satisfied the examination requirements specified for that type of regulated activity, his principal shall inform the Authority of that fact in the prescribed form and manner and within the prescribed time.
99F.
—(1) For the purposes of this Act, a temporary representative in respect of a type of regulated activity is an individual —
(a)
who satisfies such entry requirements as may be specified by the Authority for that type of regulated activity;
(b)
whose name is entered in the public register of representatives as a temporary representative;
(c)
whose status as a temporary representative has not currently been revoked or suspended and who has not currently been prohibited by the Authority from carrying on business in that type of regulated activity;
(d)
whose entry in the public register of representatives indicates that he is appointed to carry on business in that type of regulated activity and does not indicate that he has ceased to be so;
(e)
whose principal —
(i)
is licensed to carry on business in that type of regulated activity; or
(ii)
carries on business in that type of regulated activity in its capacity as a person exempted from the requirement to hold a capital markets services licence under section 99(1)(a), (b), (c) or (d); and
(f)
who is not, by virtue of any circumstances prescribed by the Authority, disqualified from acting as a temporary representative.
(2) An individual shall only be a temporary representative in respect of any type of regulated activity for such period of time as the Authority may specify against his name in the public register of representatives.
(3) A temporary representative in respect of any type of regulated activity shall immediately cease to be one —
(a)
upon the expiry of the period of time specified by the Authority under subsection (2);
(b)
if he fails to comply with any condition or restriction imposed on him under section 99N; or
(c)
on the occurrence of such other circumstances as the Authority may prescribe.
(4) Section 99D(3) to (8) (other than subsection (4)(e) thereof) shall apply to a temporary representative —
(a)
as if the reference in section 99D(6) to section 99D(1) were a reference to subsection (1); and
(b)
with such other modifications and adaptations as the differences between temporary representatives and appointed representatives require.
99G.
—(1) Any person who contravenes section 99D(3), 99E(4) (in relation to the application of section 99D(3) to a provisional representative) or 99F(4) (in relation to the application of section 99D(3) to a temporary representative) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
(2) Any person who contravenes section 99D(8), 99E(4) (in relation to the application of section 99D(8) to a provisional representative), 99F(4) (in relation to the application of section 99D(8) to a temporary representative) or 99H(5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.
99H.
—(1) A principal who desires to appoint an individual as an appointed, provisional or temporary representative in respect of any type of regulated activity shall lodge the following documents with the Authority in such form and manner as the Authority may prescribe:
(a)
a notice of intent by the principal to appoint the individual as an appointed, provisional or temporary representative in respect of that type of regulated activity;
(b)
a certificate by the principal that the individual is a fit and proper person to be an appointed, provisional or temporary representative in respect of that type of regulated activity; and
(c)
in the case of a provisional or temporary representative, an undertaking by the principal to undertake such responsibilities in relation to the representative as may be prescribed.
(2) Subject to section 99M, the Authority shall, upon receipt of the documents lodged in accordance with subsection (1), enter in the public register of representatives the name of the representative, whether he is an appointed, provisional or temporary representative, the type of regulated activity which he may carry on business in, and such other particulars as the Authority considers appropriate.
(3) The Authority may refuse to enter in the public register of representatives the particulars referred to in subsection (2) of the representative if the fee referred to in section 99K(1) or (4) (if applicable) is not paid.
(4) A principal who submits a certificate under subsection (1)(b) shall keep, in such form and manner and for such period as the Authority may prescribe, copies of all information and documents which the principal relied on in giving the certificate.
(5) Where a change occurs in any particulars of the appointed, provisional or temporary representative in any document required to be furnished to the Authority under subsection (1), the principal shall, no later than 14 days after the occurrence of such change, furnish particulars of such change to the Authority, in the prescribed form and manner.
99J.
—(1) Unless otherwise approved by the Authority in writing, no appointed representative, temporary representative or provisional representative shall at any one time be a representative of more than one principal.
(2) Notwithstanding subsection (1), an appointed representative may be a representative of more than one principal if the principals are related corporations.
(3) The Authority may require an applicant for approval under subsection (1) to furnish it with such information or documents as the Authority considers necessary in relation to the application.
(4) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.
99K.
—(1) An individual shall, by the prescribed time, pay to the Authority such fee as may be prescribed by the Authority for the lodgment of documents under section 99H by his principal in relation to his appointment as an appointed, provisional or temporary representative.
(2) An individual who is an appointed or provisional representative shall, by the prescribed time each year, pay such annual fee as may be prescribed by the Authority in relation to the retention of his name in the public register of representatives as an appointed or provisional representative.
(3) An individual who is a temporary representative shall, by the prescribed time, pay such fee as may be prescribed by the Authority in relation to the retention of his name in the public register of representatives as a temporary representative.
(4) A representative shall pay such fee as may be prescribed by the Authority for any resubmission of a form or change in the particulars of a form lodged with the Authority in relation to his appointment as an appointed, provisional or temporary representative.
(5) Unless otherwise prescribed by the Authority, any fee paid to the Authority under this section shall not be refunded.
(6) Where the representative fails to pay the fee referred to in subsection (1), (2) or (3) by the date on which such fee is due, the Authority may impose a late payment fee of a prescribed amount for every day or part thereof that the payment is late and both fees shall be recoverable by the Authority as a judgment debt.
(7) The fees referred to in this section shall be paid in the manner specified by the Authority.
99L.
—(1) The principal of an appointed representative may at any time lodge a notice with the Authority of its intention to appoint the representative as an appointed representative in respect of a type of regulated activity in addition to that indicated against the representative’s name in the public register of representatives.
(2) The notification shall be lodged in such form and manner as may be prescribed and shall be accompanied by a certificate by the principal that the representative is a fit and proper person to be a representative in respect of the additional type of regulated activity.
(3) Subject to section 99M, the Authority shall, upon receipt of the notification, enter in the public register of representatives the additional type of regulated activity as one which the representative may carry on business in as a representative.
(4) The Authority may, before entering in the public register of representatives the matter set out in subsection (3), require the principal or representative to furnish it with such information or documents as the Authority considers necessary.
(5) A notification under subsection (1) shall be accompanied by a non-refundable prescribed fee which shall be paid in the manner specified by the Authority.
Power of Authority to refuse entry or revoke or suspend status of appointed, provisional or temporary representative
99M.
—(1) Subject to regulations made under this Act, the Authority may refuse to enter the name and other particulars of an individual in the public register of representatives, refuse to enter an additional type of regulated activity for an appointed representative in that register, or revoke the status of an individual as an appointed, provisional or temporary representative if —
(a)
being an appointed, provisional or temporary representative, he fails or ceases to act as a representative in respect of all of the types of regulated activities that were notified to the Authority as activities which he is appointed to carry on business in as a representative;
(b)
he or his principal has not provided the Authority with such information or documents as the Authority may require;
(c)
he is an undischarged bankrupt, whether in Singapore or elsewhere;
(d)
execution against him in respect of a judgment debt has been returned unsatisfied in whole or in part;
(e)
he has, whether in Singapore or elsewhere, entered into a compromise or scheme of arrangement with his creditors, being a compromise or scheme of arrangement that is still in operation;
(f)
he —
(i)
has been convicted, whether in Singapore or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; or
(ii)
has been convicted of an offence under this Act;
(g)
in the case of the proposed appointment of an appointed, provisional or temporary representative in respect of a type of regulated activity, or of an application to enter an additional type of regulated activity for an appointed representative in the register —
(i)
the Authority is not satisfied as to his educational or other qualification or experience having regard to the nature of the duties he is to perform in relation to that type of regulated activity;
(ii)
he or his principal fails to satisfy the Authority that he is a fit and proper person to be an appointed, provisional or temporary representative or to carry on business in that type of regulated activity;
(iii)
the Authority is not satisfied as to his record of past performance or expertise having regard to the nature of the duties which he is to perform in relation to that type of regulated activity;
(iv)
the Authority has reason to believe that he will not carry on business in that type of regulated activity efficiently, honestly or fairly;
(h)
in the case of the revocation of the status of an individual as an appointed, provisional or temporary representative —
(i)
he or his principal fails to satisfy the Authority, pursuant to a requirement imposed by the Authority as a condition of licence, under section 99N or by regulations (as the case may be), that he remains a fit and proper person to be an appointed, provisional or temporary representative or to carry on business in the type of regulated activity for which he is appointed;
(ii)
the Authority is not satisfied with —
(A)
his educational or other qualification or experience (being qualification or experience not known to the Authority at the time his name and particulars are entered in the public register of representatives); or
(B)
his record of past performance or expertise,
having regard to the nature of his duties as an appointed, provisional or temporary representative; or
(iii)
the Authority has reason to believe that he will not carry on business in the type of regulated activity for which he is appointed efficiently, honestly or fairly;
(i)
the Authority has reason to believe that he may not be able to act in the best interests of the subscribers or customers of his principal, having regard to his reputation, character, financial integrity and reliability;
(j)
the Authority is not satisfied as to his financial standing;
(k)
there are other circumstances which are likely to lead to the improper conduct of business by, or reflect discredit on the manner of conducting the business of, the individual or any person employed by or associated with him for the purpose of his business;
(l)
the individual is in arrears of the payment of such contributions on his own behalf to the Central Provident Fund as are required under the Central Provident Fund Act (Cap. 36);
(m)
the Authority is of the opinion that it would be contrary to the interests of the public to enter the individual’s name in the public register of representatives or allow him to continue carrying on business as an appointed, provisional or temporary representative or to carry on business in that additional type of regulated activity, as the case may be;
(n)
the Authority has reason to believe that any information or document that is furnished by him or his principal to the Authority is false or misleading;
(o)
he has contravened any provision of this Act applicable to him, any condition or restriction imposed on him under this Act or any direction issued to him by the Authority under this Act;
(p)
a prohibition order under section 101A has been made by the Authority, and remains in force, against him;
(q)
the licence of his principal is revoked;
(r)
the individual fails to pay any fee referred to in section 99K;
(s)
in the case of the proposed appointment of a temporary representative in respect of a type of regulated activity —
(i)
he is not licensed, authorised or otherwise regulated as a representative in relation to a comparable type of regulated activity in a foreign jurisdiction;
(ii)
the Authority is not satisfied that the laws and practices of the jurisdiction under which the individual is so licensed, authorised or regulated provide protection to investors comparable to that applicable to an appointed representative under this Act; or
(iii)
the period of his proposed appointment, together with the period of any past appointment (or part thereof) that falls within a prescribed period before the date of expiry of his proposed appointment, exceeds the permitted period prescribed by the Authority; or
(t)
in the case of the proposed appointment of a provisional representative in respect of a type of regulated activity —
(i)
he is not or was not previously licensed, authorised or otherwise regulated as a representative in relation to a comparable type of regulated activity in a foreign jurisdiction for such minimum period as may be prescribed for this sub-paragraph;
(ii)
he was previously so licensed, authorised or regulated in a foreign jurisdiction but the period between the date of his ceasing to be so licensed, authorised or regulated and the date of his proposed appointment as a provisional representative exceeds such period as may be prescribed for this sub-paragraph; or
(iii)
the Authority is not satisfied that the laws and practices of the jurisdiction under which the individual is or was so licensed, authorised or regulated provide protection to investors comparable to that applicable to an appointed representative under this Act.
(2) The Authority may, if it considers it desirable to do so —
(a)
instead of revoking the status of an individual as an appointed, provisional or temporary representative, suspend that status for such period as the Authority may determine; and
(b)
at any time —
(i)
extend the period of suspension; or
(ii)
revoke the suspension.
(3) An individual whose status as an appointed, provisional or temporary representative has been revoked shall be deemed not to be an appointed, provisional or temporary representative, as the case may be.
(4) Where the status of an individual as an appointed, provisional or temporary representative has been suspended, he shall be deemed not to be an appointed, provisional or temporary representative (as the case may be) during the period of suspension.
(5) Where the Authority has revoked the status of an individual as an appointed, provisional or temporary representative, the Authority shall —
(a)
indicate against his name in the public register of representatives that fact, which indication shall remain in the register for such period as the Authority considers appropriate; or
(b)
remove his name from the register.
(6) Where the Authority has suspended the status of an individual as an appointed, provisional or temporary representative, the Authority shall indicate against his name in the public register of representatives that fact and the period of the suspension.
(7) Where the Authority has extended or revoked a suspension of the status of an individual as an appointed, provisional or temporary representative, it shall indicate against his name in the public register of representatives the new expiry date of the suspension, or indicate that he is no longer suspended, as the case may be.
(8) The Authority shall not take any action under subsection (1) or (2)(a) on the ground referred to in subsection (1)(n), if —
(a)
in a case where the information or document was furnished by the individual to the Authority, the individual proves that he had —
(i)
made all inquiries (if any) that were reasonable in the circumstances; and
(ii)
after doing so, believed on reasonable grounds that the information or document was not false or misleading; or
(b)
in a case where the information or document was furnished by the principal to the Authority and —
(i)
such information or document was furnished to the principal by the individual, the individual proves that he had —
(A)
made all inquiries (if any) that were reasonable in the circumstances; and
(B)
after doing so, believed on reasonable grounds that the information or document was not false or misleading; or
(ii)
such information or document was not furnished to the principal by the individual, the principal proves that he had —
(A)
made all inquiries (if any) that were reasonable in the circumstances; and
(B)
after doing so, believed on reasonable grounds that the information or document was not false or misleading.
(9) Subject to subsection (10), the Authority shall not take any action under subsection (1) or (2)(a) or (b)(i) without giving the individual an opportunity to be heard.
(10) The Authority may take action under subsection (1) or (2)(a) or (b)(i) on any of the following grounds without giving the individual an opportunity to be heard:
(a)
he is an undischarged bankrupt, whether in Singapore or elsewhere;
(b)
he has been convicted, whether in Singapore or elsewhere, of an offence —
(i)
involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and
(ii)
punishable with imprisonment for a term of 3 months or more;
(c)
a prohibition order under section 101A has been made by the Authority, and remains in force, against the individual;
(d)
the ground referred to in subsection (1)(s)(i) or (iii) or (t)(i) or (ii).
(11) Any revocation or suspension by the Authority shall not operate so as to —
(a)
avoid or affect any agreement, transaction or arrangement relating to any regulated activity entered into by such individual, whether the agreement, transaction or arrangement was entered into before, on or after the revocation or suspension, as the case may be; or
(b)
affect any right, obligation or liability arising under any such agreement, transaction or arrangement.
99N.
—(1) The Authority may, by notice in writing to an appointed, provisional or temporary representative, impose such conditions or restrictions as it thinks fit on him.
(2) Without prejudice to the generality of subsection (1), the Authority may, in entering the appointed, provisional or temporary representative’s name in the public register of representatives, impose conditions or restrictions with respect to the type of regulated activity which he may or may not carry on business in.
(3) The Authority may, at any time by notice in writing to the appointed, provisional or temporary representative, vary any condition or restriction or impose such further condition or restriction as it may think fit.
(4) Any person who contravenes any condition or restriction imposed by the Authority under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.
99O.
—(1) Any principal who, in connection with the lodgment of any document under section 99H —
(a)
makes a statement which is false or misleading in a material particular; or
(b)
omits to state any matter or thing without which the document is misleading in a material respect,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
(2) Any individual who, in connection with the lodgment by his principal of any document under section 99H —
(a)
makes a statement to his principal which is false or misleading in a material particular, being a statement subsequently lodged with the Authority; or
(b)
omits to state any matter or thing to his principal as a result of which the document is misleading in a material respect,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
(3) Any person who, when required to furnish any document or information to the Authority under section 99D(3), 99E(4) (in relation to the application of section 99D(3) to a provisional representative) or 99F(4) (in relation to the application of section 99D(3) to a temporary representative) —
(a)
makes a statement to the Authority which is false or misleading in a material particular; or
(b)
omits to state any matter or thing to the Authority without which the document or information is misleading in a material respect,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
(4) A person referred to in subsection (1), (2) or (3) shall not be guilty of an offence if he proves that he —
(a)
made all inquiries (if any) that were reasonable in the circumstances; and
(b)
after doing so, believed on reasonable grounds that the statement made or the omission to state the matter or thing, as the case may be, was not false or misleading.
99P. Any person who is aggrieved by —
(a)
the refusal of the Authority under section 99M(1) to enter his name and other particulars in the public register of representatives, or to enter an additional type of regulated activity for him in that register; or
(b)
the revocation or suspension of his status as an appointed, provisional or temporary representative under section 99M(1) or (2)(a),
may, within 30 days after he is notified of the decision of the Authority, appeal to the Minister whose decision shall be final.”.