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Revised Laws of Saint Lucia (2021)

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Schedule 1

(Section 5)

CLASSES OF LICENCES

Class of Licence	Description of Licence
Class A	Transmission of money or monetary value in any form Issuance, sale or redemption of money orders or traveller's cheques Cheque cashing Currency exchange
Class B	Issuance, sale or redemption of money orders or traveller's cheques Cheque cashing Currency exchange
Class C	Cheque Cashing
Class D	Currency Exchange
Class E	Micro-lending
Class F	Lending

(Amended by Act 20 of 2014 and by Act 5 of 2021)

3. Application of this Act

4. Requirement for licence

7. Alteration of facts disclosed in application

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

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

25. Segregated Accounts

27. Utilisation of deposits, etc.

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

33. Revocation and termination of licence

34. Suspension of licence

36. Appointment of receiver

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

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

47. Prudential guidelines

49. Administration of this Act

50. Regulations

8. Adequacy of capital

9. Period of licence and licence fee

26. Bankruptcy or insolvency of licensee

35. Persons carrying on money services business without a licence

38. Powers of the Authority in respect of licensees

45A. General penalty

2. Interpretation

5. Classes of licences

6. Application for licence, formalities and considerations