Section 10Part 3 — PROFESSIONAL DIRECTORS
Application for a licence as a professional director
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An application for a licence shall be made to the Authority, in the prescribed form and shall be accompanied by the prescribed application fee.
An applicant shall comply with any requests made by the Authority for information —
that relates to his appointment as a director of a covered entity;
necessary to the Authority for the purposes of licensing; or
that the Authority may reasonably require for the exercise of its regulatory functions under this Law or the Monetary Authority Law (2013 Revision).
An application fee paid to the Authority for licensing as a professional director is non-refundable.
Upon submitting an application for a licence under this Part to the Authority, an applicant may continue to act as a professional director until the applicant is granted a licence by the Authority under section 11 but that applicant shall in the time prescribed cease to act as a professional director if, for any reason, the application for a licence is refused.
Defined Terms
licenceAuthoritycovered entityapplicant
Cross References
- Section 11 of Directors Registration And Licensing Actexternal
reference to section 11 regarding licence grant