2. In these Regulations, unless the context otherwise requires —
“Act” means the Financial Advisers Act (Cap. 110);
“exempt financial institution” means a financial institution exempt under section 23(1)(a), (b), (c), (d) or (e) of the Act from holding a financial adviser’s licence to act as a financial adviser in Singapore in respect of any financial advisory service;
“licensed representative” means the holder of a representative’s licence in force immediately before 26th November 2010;
“representative’s licence” means a representative’s licence as defined in section 2(1) of the Act in force immediately before 26th November 2010.