Money Services Business Act 2011 · s 33

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s 33Effecting change in shareholding structure

(1)

Subject to subsection (2), a licensee shall notify the Bank in writing of any change in its shareholders and shareholding structure not later than fourteen days after the changes become effective.

(2)

A licensee shall not effect a change in its shareholders and shareholding structure where the change would result in the change of control of its money services business without the prior written approval of the Bank.

(3)

The Bank may, at any time after receiving an application under subsection (2), require the licensee to provide additional information or documents as the Bank may require.

(4)

A licensee who contravenes subsection (1) or (2) commits an offence.