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PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 3

Applications for, and grant and extent of, licences.

3.(1) Subject to the following provisions of this Act, the Ministry

(a)upon an application in that behalf made by any person in the prescribed
manner, and on payment of the prescribed fee, shall grant to that person a
principal's licence, and

(b)upon an application made by any person in the prescribed manner and on
payment of the prescribed fee, shall grant to that person a representative's
licence.

(2) A licence shall, unless in the meantime it is revoked, be valid for the
period of one year beginning with the day specified in the licence as the day
on which it takes effect, and no longer.

(3) A principal's licence shall specify the name of the person thereby
authorised to carry on the business of dealing in securities, and shall not
authorise him to carry on that business under any name other than that
specified in the licence as his name:

Provided that, if the Ministry thinks fit, such a licence may, at the request
of the applicant for the licence, be framed so as to authorise the holder
thereof to carry on the said business, either alone or jointly with any other
person being the holder of a principal's licence, under such name or style as
the applicant may specify in his application.

© 1940 Crown Copyright

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