(1) The report of the auditor made in accordance with section 61 shall be presented with the report of the board and the financial statements of the licensed financial institution or the licensed financial holding company at the annual meeting of shareholders of each local licensed financial institution or licensed financial holding company and shall be transmitted to the head office of each foreign licensed financial institution.
(2) A copy of the financial statements and reports shall be sent to the Minister and the Central Bank within 3 months of the end of the financial year.
(3) A licensed financial institution or a licensed financial holding company shall within 3 months of the end of its financial year —
(a) publish in the Gazette or on the company website, and in a local newspaper; and
(b) exhibit in a conspicuous place in each of its offices,
a true and full yearly statement of its accounts and a consolidated balance sheet of all its operations in Saint Lucia and abroad as the case may be as certified by its external auditor.
(4) The statement shall be signed by the manager or by an officer of the licensed financial institution or the licensed financial holding company as may from time to time be authorised by the licensed financial institution or the licensed financial holding company to sign the statement on behalf of the licensed financial institution or the licensed financial holding company.
(5) Where any licensed financial institution or any licensed financial holding company fails to comply with the requirements of subsections (1) to (4) within 3 months of the end of its financial year, it is liable to a penalty of $50,000 and $3,000 for every day of the default except when an extension to the period has been granted by the Central Bank pursuant to section 91.