(1) A licence granted under section 4 shall be granted for carrying on of—
(a) international banking business from Saint Lucia but subject to such conditions as may be imposed by the Minister, known as a class “A” international banking licence; or
(b) international banking business from Saint Lucia but subject to such conditions as may be imposed by the Minister and incorporating a further restriction that the licensee shall not receive or solicit funds by way of trade or business from persons other than those listed in any undertaking accompanying the application for the international banking licence, known as a class “B” international banking licence.
(2) A condition or restriction imposed under subsection (1) may at any time be varied or revoked by the Minister.
(3) A licensee shall not without the written approval of the Minister, carry on any business other than one for which the licence has been obtained.