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INTERNATIONAL BANKS ACT
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PART 6 REGULATORY RELATIONSHIPS
2023 Laws not yet authenticated through a Commencement Order
Revised Laws of Saint Lucia (2023)
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PART 6
REGULATORY RELATIONSHIPS
Please provide name and address all Regulatory Entities to which the applicant or other group companies report or reported over the past 5 years
Name of Company
Name and Address of Regulatory Authority
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PART 6 REGULATORY RELATIONSHIPS
1. Short title
2. Interpretation
3. Requirement for licence
4. Application and grant of licence
5. Registered office and registered agent
6. Notification of change of particulars
7. Categories of licences
8. Fees
9. Refusal to grant licence
10. Limitation on activities
(Substituted by Act 14 of 2022)
11. Capital
12. Surrender of licence
13. Limitation on transfer issue or disposal
14. Use of word “bank”
15. Audited accounts for licensee
16. Certain prohibitions on licensee
17. Number of directors
18. Duties of Director
19. Secrecy
20. Powers of Minister
21. Order for winding-up
22. Voluntary liquidation
23. Cessation of business operations
24. Notices to depositors of voluntary liquidation
25. Rights of depositors and creditors in voluntary liquidation
26. Distribution of assets
27. Insufficiency of assets in discharge of obligations in voluntary liquidation
28. Appointment of receiver
29. Notice of appointment of receiver
30. Proceedings to revoke receiver's appointment
31. Period of obligation to commence proceedings
32. Compulsory liquidation or reorganisation proceedings
33. Powers of the Court
34. Powers of receiver or liquidator
35. Term extensions, attachments and voidable transfer of assets
36. Execution against assets of a licensee
37. Reorganisation proceedings
38. Reorganisation provisions
39. Petition for modification of reorganisation
40. Preferential and other claims
41. Unclaimed funds
42. Shareholders' rights on remaining assets
43. Safe deposits and unclaimed property
44. Conclusion of liquidation
45. Abandoned property
46. Report, publication and disposal of abandoned property
47. Sale and handling of proceeds of abandoned property
48. Claims on abandoned property
49. Penalties
50. Offences
51. Appeals
52. Insurance
53. Immunity
54. Non-application of Banking Act and Exchange Control ACT
55. Consolidated Fund
56. Regulations
International Banks Regulations – Section 44
ACT
PART 1 PRELIMINARY
1. Short title
2. Interpretation
PART 2 LICENCES
3. Requirement for licence
4. Application and grant of licence
5. Registered office and registered agent
6. Notification of change of particulars
7. Categories of licences
8. Fees
9. Refusal to grant licence
10. Limitation on activities
(Substituted by Act 14 of 2022)
11. Capital
12. Surrender of licence
PART 3 SHARES
13. Limitation on transfer issue or disposal
PART 4 ADMINISTRATION
14. Use of word “bank”
15. Audited accounts for licensee
16. Certain prohibitions on licensee
17. Number of directors
18. Duties of Director
19. Secrecy
20. Powers of Minister
21. Order for winding-up
PART 5 RECEIVERSHIP, LIQUIDATION AND REORGANISATION
22. Voluntary liquidation
23. Cessation of business operations
24. Notices to depositors of voluntary liquidation
25. Rights of depositors and creditors in voluntary liquidation
26. Distribution of assets
27. Insufficiency of assets in discharge of obligations in voluntary liquidation
28. Appointment of receiver
29. Notice of appointment of receiver
31. Period of obligation to commence proceedings
32. Compulsory liquidation or reorganisation proceedings
33. Powers of the Court
34. Powers of receiver or liquidator
35. Term extensions, attachments and voidable transfer of assets
36. Execution against assets of a licensee
37. Reorganisation proceedings
38. Reorganisation provisions
39. Petition for modification of reorganisation
40. Preferential and other claims
41. Unclaimed funds
43. Safe deposits and unclaimed property
44. Conclusion of liquidation
PART 6 ABANDONED PROPERTY
45. Abandoned property
46. Report, publication and disposal of abandoned property
47. Sale and handling of proceeds of abandoned property
48. Claims on abandoned property
49. Penalties
PART 7 MISCELLANEOUS
50. Offences
51. Appeals
52. Insurance
53. Immunity
54. Non-application of Banking Act and Exchange Control ACT
55. Consolidated Fund
56. Regulations
SUBSIDIARY LEGISLATION
International Banks Regulations – Section 44 (Statutory Instruments 97/2000 and 34/2001)
1. Citation
2. Interpretation
3. Application for licence
4. Licence
5. Notice of Change
6. Notice of Revocation
7. Fees
8. Deposits and investment
Schedule 1
PART 1 APPLICANT DETAILS
PART 2 ADDITIONAL INFORMATION
PART 3 APPLICANT MANAGEMENT
PART 4 DETAILS OF CORPORATE STRUCTURE OF WHICH APPLICANT FORMS PART
PART 5 APPLICANT ADMINISTRATION EXPERIENCE (WHERE APPLICABLE)
PART 7 STATUTORY DECLARATION – TO BE COMPLETED BY SHAREHOLDERS, DIRECTORS AND SENIOR MANAGEMENT PERSONNEL
Schedule 2