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Revised Laws of Saint Lucia (2023)

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PART C
NOTES TO APPLICANTS FOR PERSONAL QUESTIONNAIRE

PART C NOTES TO APPLICANTS FOR PERSONAL QUESTIONNAIRE

PART 1 PRELIMINARY

2. Interpretation

3. Application of this Act

PART 2 LICENCES

4. Requirement for licence

5. Classes of licences

6. Application for licence, formalities and considerations

7. Alteration of facts disclosed in application

8. Adequacy of capital

9. Period of licence and licence fee

10. Authorisation of location and approval of new business premises

11. Display of licence certificate

12. Restrictions on names likely to mislead

13. Advertisement

14. Actions of fundamental change requiring approval

15. Change in directorship

PART 3 AUDIT, INFORMATION AND EXAMINATION

16. Annual audit, report and publication of financial statements and results

17. Notice of termination of auditor's appointment

18. Accounting records and systems of business control

20. Extension of time for providing information

21. Retention of records

22. Examination by Authority

23. Confidential information

24. Exchange of information

PART 4 SEGREGATED ACCOUNTS, BANKRUPTCY OR INSOLVENCY OF LICENSEE

25. Segregated Accounts

26. Bankruptcy or insolvency of licensee

27. Utilisation of deposits, etc.

PART 5 ABANDONED PROPERTY

28. Abandoned Property

29. Report, publication and disposal of abandoned property

30. Sale and handling of proceeds of sale of abandoned property

31. Claims on abandoned property

32. Penalties for failure to file abandoned property report

PART 6 ENFORCEMENT

33. Revocation and termination of licence

34. Suspension of licence

35. Persons carrying on money services business without a licence

36. Appointment of receiver

37. Authority may apply to Court to preserve customers' interests

38. Powers of the Authority in respect of licensees

39. Transactions effected prior to suspension or revocation of licence

40. Powers and duties of the Authority

41. Criteria of prudent management

42. Management's duty of compliance with the requirements of the law

43. False or misleading information

44. Removal and disqualification of officers

45. Offences by officers of corporate bodies

45A. General penalty

PART 7 IMMUNITIES, REGULATIONS AND GUIDELINES

47. Prudential guidelines

49. Administration of this Act

50. Regulations

INFORMATION TO BE CONTAINED IN AND TO ACCOMPANY AN APPLICATION FOR THE GRANT OF A LICENCE

PART 2 PERSONAL QUESTIONNAIRE

PART B RELATED OR OTHER INTEREST

AUDITED FINANCIAL STATEMENTS

SUBSIDIARY LEGISLATION