Administration of account
112 Administration of account
The Fidelity Account shall be administered by the chief executive officer.
[Section 112 amended: No. 29 of 1982 s. 12; No. 77 of 2006 Sch. 1 cl. 147(2); No. 58 of 2010 s. 105.]
113. Payments to account by applicants for licences etc.
Each agent, on making application in any year for a licence or the renewal of a triennial certificate shall, in addition to all other fees payable in respect thereof, pay to the chief executive officer a sum of $150 or such other sum as the chief executive officer approves, but limited to an increase in any one year of 6.7%, and no such licence or renewal of a triennial certificate shall be issued until the appropriate payment has been made to the chief executive officer.
Each sales representative, on making application for a certificate of registration or a renewal thereof, shall in addition to all other fees payable in respect thereof, pay to the chief executive officer a sum of $45 or such other sum as the chief executive officer approves, but limited to an increase in any one year of 20%, and no such certificate of registration or renewal thereof shall be issued until the appropriate payment has been made to the chief executive officer.
The amounts paid to the chief executive officer under this section shall forthwith be credited by the chief executive officer to the Fidelity Account.
[Section 113 amended: No. 29 of 1982 s. 12; No. 56 of 1995 s. 46; No. 59 of 1995 s. 42; No. 77 of 2006 Sch. 1 cl. 147(2); No. 58 of 2010 s. 106.]
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.