(1) An application for a licence shall be made in writing to the Central Bank, and shall be accompanied by the non-refundable application fee specified in Schedule 1 and the following documents and other information —
(a) authenticated copies of the instrument under which the applicant is organised;
(b) a statement of the address of its head office and the locations of the principal and other places of business where the applicant proposes to do business;
© detailed information regarding the persons who will hold or ultimately benefit from significant shareholdings, directly or indirectly, the respective values of the shares and the percentage of ownership;
(d) detailed information regarding the directors and officers, including their qualifications and experience, financial position, business interests and performance of the business concerns under their control or management;
© where the applicant will be a member of a financial holding company or other corporate group, a complete diagram of the group, including all direct and indirect affiliates and associates of the financial institution and the nature of their relationship to the group;
(f) documentary evidence of the capital of the applicant seeking to be licensed, including the original sources, and any other sources of funds;
(g) a business plan, including projected statement of financial position, financial performance and capital and full particulars of the business the applicant proposes to operate;
(h) an operating plan and documented internal controls system; and
(i) such other information as the Central Bank may require.
(2) A foreign financial institution that intends to open a branch within the Currency Union shall in addition to submitting the documents and other information required under subsection (1), submit with its application —
(a) a certificate showing that the home banking supervisor of the jurisdiction in which it was incorporated, formed or organised has no objection to its application for a licence to do business in the Currency Union; and
(b) evidence satisfactory to the Central Bank that it is subject to a comprehensive supervision on a consolidated basis by the home banking supervisor of the jurisdiction.
(3) The Central Bank may require that information supplied to it be verified, certified or otherwise authenticated in the manner that the Central Bank may consider fit.