CRD Welcome Package

(5) A person refusing to make available for examination any relevant documents having been so requested by the Central Bank commits an offence and is liable on summary conviction to a fine not exceeding five thousand dollars or imprisonment for a term not exceeding six months or to both such fine and imprisonment. 5. Notwithstanding subsection (5) of section 3, where a person is found under subsection (2) of section 4 to be conducting banking business without a licence, the Central Bank may appoint a receiver for the person under paragraph (k) of section 138. 6. A person holding funds which was obtained by doing banking business without being in possession of a licence granted under this Act shall repay such funds in accordance with the directions of the Central Bank. An application for a licence shall be made in writing to the Central Bank, and shall be accompanied by the non-refundable application fee specified in Schedule 1and the following documents and other information: (a) authenticated copies of the instrument under which the applicant is organised; (b) a statement of the address of its head office and the locations of the principal and other places of business where the applicant proposes to do business; (c) detailed information regarding the persons who will hold or ultimately benefit from significant shareholdings, directly or indirectly, the respective values of the shares and the percentage of ownership; (d) detailed information regarding the directors and officers, including their qualifications and experience, financial position, business interests and Appointment of receiver for failure to hold licence Repayment of funds obtained without licence Application for licence 7. (1)

12