(1) An eligible company desirous of carrying on international banking business from Saint Lucia may apply to the Minister for the grant of a licence to do so.
(2) An application made under subsection (1) shall be in writing and shall contain such information and particulars and shall be accompanied by such details as may be prescribed together with the prescribed application fee.
(3) Where an application is made under subsection(1) the Minister may, if satisfied that the carrying on of an international banking business will not be contrary to the public interest, grant the licence subject to such terms and conditions, if any, as the Minister may deem necessary.