Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance
Part 5—Division 2
A739
Section 30
Ord. No. 15 of 2011
(3) If a person is convicted of an offence under this section, the magistrate may order that the person is to be disqualified from holding a licence for a period specified in the order beginning on the date of the order.
30. Grant of licence
(1) An application for the grant of a licence—
- (a) must be made to the Commissioner in the form and manner specified by the Commissioner; and
- (b) must be accompanied by the fee specified in Schedule 3.
(2) The Commissioner may, on an application under subsection (1), grant to the applicant a licence to operate a money service.
(3) The Commissioner may grant a licence to an applicant only if the Commissioner is satisfied that—
- (a)(i) where the applicant is an individual—
- (A) the individual is a fit and proper person to operate a money service; and
- (B) if there is an ultimate owner in relation to the individual, the ultimate owner is a fit and proper person to be associated with the business of operating a money service;
- (ii) where the applicant is a partnership—
- (A) each partner in the partnership is a fit and proper person to operate a money service; and
- (B) if there is an ultimate owner in relation to the partnership, the ultimate owner is a fit and proper person to be associated with the business of operating a money service; or
- (iii) where the applicant is a corporation—
