Revised Laws of Saint Lucia (2023)

11.   Appointment and obligations of principal representative

1.  

   (1)   A licensee with a registered office outside Saint Lucia shall appoint and have at all times in place, a person who is ordinarily resident in Saint Lucia to be its principal representative.

1.  

   (2)   The principal representative shall —

   1.  

      (a)     be responsible for the daily management of the place of business in Saint Lucia;

   1.  

      (b)     act as a liaison between clients of the licensee and other offices of the licensee or its affiliates, other than offices located in, or affiliates incorporated in, Saint Lucia;

   1.  

      (c)     act as a liaison between the licensee and the Authority on all matters arising in connection with the virtual asset business in Saint Lucia;

   1.  

      (d)     receive all notices and other documentation from the Authority on behalf of the licensee;

   1.  

      (e)     advise and guide the licensee as to its responsibilities and obligations to ensure compliance with this Act;

   1.  

      (f)     submit to the Authority on behalf of the licensee all required information and documentation under this Act in a timely manner;

   1.  

      (g)     disclose to the Authority information or an explanation that the Authority may require for the purpose of verifying information to be taken into account in considering a matter arising in connection with the virtual asset business in Saint Lucia; and

   1.  

      (h)     carry out any other prescribed responsibilities.