MONEY SERVICES BUSINESS ACT 2011

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1 PART I PRELIMINARY-1. Short title, commencement and non-application.

2 PART I PRELIMINARY-2. Interpretation.

3 PART I PRELIMINARY-3. Functions, powers and duties of the Bank.

4 PART II LICENSING-4. Prohibition from carrying on money services business.

5 PART II LICENSING-5. Application for licence.

6 PART II LICENSING-6. Requirements for a licence.

7 PART II LICENSING-7. Grant or refusal of licence.

8 PART II LICENSING-8. Fees.

9 PART II LICENSING-9. Renewal of licence.

10 PART II LICENSING-10. Conditions of licence.

11 PART II LICENSING-11. Display of licence.

12 PART II LICENSING-12. Revocation of licence.

13 PART II LICENSING-13. Appeal against revocation of licence.

14 PART II LICENSING-14. Licence to be forwarded to the Bank.

15 PART II LICENSING-15. Effect of expiry, non-renewal, revocation or surrender of licence.

16 PART II LICENSING-16. Surrender of licence.

17 PART II LICENSING-17. Preservation of rights and claims.

18 PART II LICENSING-18. Approval for change in name of licensee.

19 PART II LICENSING-19. Restriction of business.

20 PART II LICENSING-20. Publication of list of licensees.

21 PART III MONEY SERVICES BUSINESS-21. Office of licensee.

22 PART III MONEY SERVICES BUSINESS-22. Maintenance of capital.

23 PART III MONEY SERVICES BUSINESS-23. Use of words "money services business", etc .

24 PART III MONEY SERVICES BUSINESS-24. Name to be affixed outside office.

25 PART III MONEY SERVICES BUSINESS-25. Advertisement.

26 PART III MONEY SERVICES BUSINESS-26. Transparency in dealings.

27 PART III MONEY SERVICES BUSINESS-27. Licensee to issue receipt.

28 PART III MONEY SERVICES BUSINESS-28. Maintenance of records by licensee.

29 PART III MONEY SERVICES BUSINESS-29. Sale, leasing, etc, of money services business.

30 PART III MONEY SERVICES BUSINESS-30. Appointment of director, chief executive officer or manager.

31 PART III MONEY SERVICES BUSINESS-31. Appointment of auditor.

32 PART III MONEY SERVICES BUSINESS-32. Shareholders of licensee.

33 PART III MONEY SERVICES BUSINESS-33. Effecting change in shareholding structure.

34 PART III MONEY SERVICES BUSINESS-34. Submission of information or documents.

35 PART III MONEY SERVICES BUSINESS-35. Submission of false information.

36 PART III MONEY SERVICES BUSINESS-36. Operational and governance arrangements.

37 PART IV REMITTANCE BUSINESS-37. Customers' funds to be kept separately.

38 PART IV REMITTANCE BUSINESS-38. Certificate of closure.

39 PART IV REMITTANCE BUSINESS-39. Operational requirements.

40 PART IV REMITTANCE BUSINESS-40. Use of remittance system by a licensee who carries on remittance business.

41 PART IV REMITTANCE BUSINESS-41. Revocation of approval granted under subsection 40(1).

42 PART V MONEY SERVICES BUSINESS AGENTS-42. Appointment of money services business agents.

43 PART V MONEY SERVICES BUSINESS AGENTS-43. Application and grant of approval.

44 PART V MONEY SERVICES BUSINESS AGENTS-44. Register of money services business agents.

45 PART V MONEY SERVICES BUSINESS AGENTS-45. Prohibition from carrying on money services business on behalf of a licensee.

46 PART V MONEY SERVICES BUSINESS AGENTS-46. Money services business agents to comply with provisions of this Act, etc .

47 PART V MONEY SERVICES BUSINESS AGENTS-47. Revocation of approval for appointment of money services business agent.

48 PART VI EXAMINATION-48. Examination of licensee, etc .

49 PART VI EXAMINATION-49. Examination of specific persons.

50 PART VI EXAMINATION-50. Right of access and production of property, etc .

51 PART VI EXAMINATION-51. Appearance before examiner.

52 PART VI EXAMINATION-52. Confidentiality of examination reports.

53 PART VII INVESTIGATION AND ENFORCEMENT-53. Appointment of investigating officer.

54 PART VII INVESTIGATION AND ENFORCEMENT-54. Powers of investigating officer.

55 PART VII INVESTIGATION AND ENFORCEMENT-55. Search and seizure with warrant.

56 PART VII INVESTIGATION AND ENFORCEMENT-56. Search and seizure without warrant.

57 PART VII INVESTIGATION AND ENFORCEMENT-57. Power of an investigating officer in the course of investigation.

58 PART VII INVESTIGATION AND ENFORCEMENT-58. Access to data, etc .

59 PART VII INVESTIGATION AND ENFORCEMENT-59. Warrant admissible notwithstanding defects.

60 PART VII INVESTIGATION AND ENFORCEMENT-60. List of property, etc , seized.

61 PART VII INVESTIGATION AND ENFORCEMENT-61. Release of the property, etc , seized.

62 PART VII INVESTIGATION AND ENFORCEMENT-62. Obstruction to exercise of powers by an investigating officer.

63 PART VII INVESTIGATION AND ENFORCEMENT-63. Requirement to provide translation.

64 PART VII INVESTIGATION AND ENFORCEMENT-64. Notice to call for examination.

65 PART VII INVESTIGATION AND ENFORCEMENT-65. Power to examine person.

66 PART VII INVESTIGATION AND ENFORCEMENT-66. Surrender of travel documents.

66A PART VII INVESTIGATION AND ENFORCEMENT-66A. Forfeiture of property upon prosecution for an offence.

67 PART VII INVESTIGATION AND ENFORCEMENT-67. Assistance to police officer or public authority, etc .

68 PART VII INVESTIGATION AND ENFORCEMENT-68. Investigating officer deemed to be public servant and public officer.

69 PART VII INVESTIGATION AND ENFORCEMENT-69. Seizable offence.

70 PART VII INVESTIGATION AND ENFORCEMENT-70. Arrested person to be made over to the police.

71 PART VII INVESTIGATION AND ENFORCEMENT-71. Agent provocateur.

72 PART VII INVESTIGATION AND ENFORCEMENT-72. Specific persons in respect of whom powers of investigation may be exercised.

73 PART VIII OTHER POWERS OF THE BANK-73. Power of the Bank to issue directives.

74 PART VIII OTHER POWERS OF THE BANK-74. Power of the Bank to issue guidelines, etc .

75 PART VIII OTHER POWERS OF THE BANK-75. Power of the Bank to take administrative actions.

76 PART VIII OTHER POWERS OF THE BANK-76. Civil action by the Bank.

77 PART VIII OTHER POWERS OF THE BANK-77. Power of court to make certain orders.

78 PART VIII OTHER POWERS OF THE BANK-78. Power to make regulations.

79 PART VIII OTHER POWERS OF THE BANK-79. Power of the Bank to publish information.