Section 13Part 2 — Registered Persons and Virtual Asset Service Licensees
Directions to apply for licence under this Act
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The Authority may require an existing licensee to apply for a licence under this Act where the existing licensee is engaged in virtual asset service that is determined by the Authority to be an activity that requires a licence under this Act and is materially different from the business activity for which it is licensed under another regulatory law and requires specific supervision under this Act .
The licence under this Act shall be in addition to the licence held by the existing licensee under another regulatory law.