(758) 468-3200
Government Saint Lucia
Home
About AG Office
Mission & Strategic Priorities
Organizational Structure of Chambers
Role of The Attorney General
Former Attorney Generals
Departments
Heads of Departments
Legislative Drafting
Advice and Litigation
Registry of Companies & Intellectual Property
Administration
Financial Intelligence Authority
Accessibility
Fees
Contact Us
Home
/
Departments
/
Legislative Drafting
/
Revised Laws of Saint Lucia
/
MONEY SERVICES BUSINESS ACT
Revised Laws of Saint Lucia (2023)
Back to Revised Laws of Saint Lucia (2023)
MONEY SERVICES BUSINESS ACT
ACT
PART 1 PRELIMINARY
1. Short title
2. Interpretation
3. Application of this Act
PART 2 LICENCES
4. Requirement for licence
5. Classes of licences
6. Application for licence, formalities and considerations
7. Alteration of facts disclosed in application
8. Adequacy of capital
9. Period of licence and licence fee
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
PART 3 AUDIT, INFORMATION AND EXAMINATION
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
19. Returns
20. Extension of time for providing information
21. Retention of records
22. Examination by Authority
23. Confidential information
24. Exchange of information
PART 4 SEGREGATED ACCOUNTS, BANKRUPTCY OR INSOLVENCY OF LICENSEE
25. Segregated Accounts
26. Bankruptcy or insolvency of licensee
27. Utilisation of deposits, etc.
PART 5 ABANDONED PROPERTY
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
PART 6 ENFORCEMENT
33. Revocation and termination of licence
34. Suspension of licence
35. Persons carrying on money services business without a licence
36. Appointment of receiver
37. Authority may apply to Court to preserve customers' interests
38. Powers of the Authority in respect of licensees
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
45. Offences by officers of corporate bodies
45A. General penalty
PART 7 IMMUNITIES, REGULATIONS AND GUIDELINES
46. Immunity
47. Prudential guidelines
49. Administration of this Act
50. Regulations
Schedule 1
Schedule 2
PART 1
INFORMATION TO BE CONTAINED IN AND TO ACCOMPANY AN APPLICATION FOR THE GRANT OF A LICENCE
PART 2 PERSONAL QUESTIONNAIRE
PART B RELATED OR OTHER INTEREST
PART C NOTES TO APPLICANTS FOR PERSONAL QUESTIONNAIRE
AUDITED FINANCIAL STATEMENTS
Schedule 3
Schedule 4
SUBSIDIARY LEGISLATION