Revised Laws of Saint Lucia (2021)

3.   Application of this Act

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    (1)   This Act does not apply to—

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      (a)     a person licensed under the Banking Act or the International Banks Act unless such person is operating as an agent or a franchise holder of a money services business;

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      (b)     the Central Bank;

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      (c)     an organisation licensed as a clearing agency under the Securities Act;

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      (d)     an operator of a clearing house or funds transfer system under the Payment System Act.

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    (2)   A money services business which is licensed under this Act is not required to be licensed under the Trade Licences Act.

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    (3)   This Act does not apply to or affect the validity of any money services business transaction in existence at the date of commencement of this Act.