(1) A licensee who holds a Class A, Class B, Class E or Class F licence shall, in the form provided by the Authority, file quarterly returns with the Authority within 15 days of the end of a quarter, along with a written declaration that the information set out in the application for the licence remains correct and gives a full and fair picture of the money services business of the licensee. (Substituted by Act 20 of 2014 and amended by Act 5 of 2021)
(2) A licensee who holds a Class C or Class D licence must, within 15 days of the end of the financial year of the licensee, file an annual return with the Authority along with a written declaration that the information set out in the application for the licence remains correct and gives a full and fair picture of the licensee's money services business.
(3) A designated licensee shall submit a copy of the returns to the Central Bank within the stipulated time.
(4) A licensee who fails to file the returns within the time stipulated in subsections (1) or (2) 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.