(1) Where the Minister on the advice of the Director is satisfied that an application made under section 5 meets the requirements of this Act and that the applicant is qualified, of sound reputation, solvent and otherwise fit and proper to carry on the business of international financial services representation, the Minister may, on payment of the prescribed licence fee and proof of adequate insurance under section 24 grant the licence applied for. (Amended by Act 2 of 2000)
(2) A person shall not be issued a licence to—
(a) carry on a business of international financial services representation; or
(b) act or hold itself out as an agent, affiliate or representative of a licensee,
exclusively from a place of business outside of Saint Lucia.
(3) In granting a licence under this section the Minister shall indicate whether the licensee is permitted to act as registered agent or registered trustee or as both and may impose such terms and conditions as he or she thinks appropriate.
(4) The Director shall cause notice of the issue of a licence to be published in the Gazette.