Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance
(7) The Commissioner must, as soon as reasonably practicable after granting an application under this section, amend the relevant particulars in the register.
(8) A licensee who, without reasonable excuse, contravenes subsection (1) commits an offence and is liable on conviction to a fine at level 5 and to imprisonment for 6 months.
40. Licensee’s duty to notify Commissioner of changes in particulars
(1) If there is any change in the particulars that are provided to the Commissioner in connection with a licensee’s application under section 30 or 31, the licensee must notify the Commissioner in writing of the change within one month beginning on the date on which the change takes place.
(2) For the purposes of subsection (1), particulars that are provided in connection with a licensee’s application under section 30 or 31 include particulars notified under that subsection.
(3) The Commissioner must, as soon as reasonably practicable after receiving a notification under subsection (1), amend any relevant particulars in the register if necessary.
(4) A licensee who, without reasonable excuse, contravenes subsection (1) commits an offence and is liable on conviction to a fine at level 5.
41. Licensee’s duty to notify Commissioner of cessation of business
(1) If a licensee intends to cease to operate a money service or (if applicable) to cease to operate a money service at any of the premises specified in the licence with effect from a particular date (referred to in this section as date of cessation), the licensee must—
