2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

112.   Management's duty of compliance with the requirements of the laws

Any director, officer, secretary or other officer concerned in the management of a licensed financial institution or licensed financial holding company who —

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    (a)   fails to take all reasonable steps to secure compliance by the licensed financial institution or the licensed financial holding company with the requirements of this Act; or

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    (b)   is implicated in an offence committed under section 93, commits an offence and is liable on summary conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 2 years or to both such fine and imprisonment, unless a different penalty is specified by another section of this Act.