Revised Laws of Saint Lucia (2021)

25.   Grounds for disapproval of a transfer

The Central Bank may disapprove a proposed transfer of shares in the interest of sound and prudent management of a licensed financial institution by preventing —

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    (a)     the acquisition of shares by a person who, does not satisfy the fit and proper criteria issued by the Central Bank or may exercise control to the detriment of that licensed financial institution; or

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    (b)     a transaction in any other situation in which the Central Bank has reason to believe that the transaction will be detrimental to that licensed financial institution.