Section 5 — BANKING AND FINANCIAL INSTITUTIONS ACT 1989

(a)

a copy of the memorandum and articles of association or other constituent documents under which the applicant is established, duly verified by a statutory declaration made by a director of the applicant;

(b)

a copy of the latest audited balance sheet of the applicant;

(c)

a statement on the following:

(i)

the name, place and date of the establishment of the applicant;

(ii)

the names, places and dates of the establishment of its related corporations;

(iii)

the sources of the applicant's funds, and the purposes for which and the manner in which they are utilised;

(iv)

the principal business and field of operations of the applicant and of its related corporations; and

(v)

the names and addresses of the directors of the applicant and its related corporations, and of the substantial shareholders within the meaning of section 69D of the Companies Act 1965, of the applicant and its related corporations; and

(d)

such other information or documents as may be specified by the Bank for the purposes of determining the application and the suitability of the applicant for the licence.

(2)

At any time after receiving an application and before it is determined by the Minister, the Bank may by written notice require the applicant or any person who is or is to be a director, controller or manager of the applicant to provide additional information or documents.

(3)

The matters specified under subsection (1) (d) or the requirements under subsection (2) may differ as between different applicants, or different classes, categories or descriptions of applicants.

(4)

An application under this section may be withdrawn at any time before it is granted or refused.

(5)

Where any additional information or document required under subsection (2) is not provided by the applicant or its director, controller or manager, as the case may be, within the time specified in the requirement or any extension thereof granted by the Bank, the application shall be deemed to be withdrawn and shall not be further proceeded with, without prejudice to a fresh application being made by the applicant.