(1) A licensee shall not hold a licence under a name which—
(a) is identical to that of any company, firm or business house, whether within Saint Lucia or not, or that so nearly resembles that name as to be misleading;
(b) falsely suggests, the patronage of or connection with some person or Minister, whether within Saint Lucia or not;
(c) falsely suggests, that the money services business has a special status in relation to or derived from the Government, has the official backing of or acts on behalf of the Government or any department, branch, agency or organ of Government, or of any officer of Government or is recognised in Saint Lucia as a national or central money services business.
(2) The Authority may refuse to grant a licence to or shall revoke the licence of a person who contravenes subsection (1).
(3) A licensee who contravenes subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both.