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Revised Laws of Saint Lucia (2022)

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45. Offences by officers of corporate bodies

(1) Where an offence under this Act has been committed by a body of persons which is—
1. (a) a body corporate, society or other body of persons, every person who at the time of the commission of the offence was a director, manager, secretary or other officer of the body corporate, society or other body of persons as well as that body corporate, society or other body of persons commits the offence;
1. (b) a partnership or firm, every partner of the partnership or firm as well as that partnership or firm commits the offence,

and is liable to be proceeded against and punished accordingly.

(2) A person referred to in subsection (1) shall not be convicted of an offence under that subsection where the person proves, that—
1. (a) the act constituting the offence took place without his or her knowledge or consent; or
1. (b) the person exercised all due diligence to prevent the commission of the offence.

45. Offences by officers of corporate bodies

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

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