Money-changing and Remittance Businesses Act(CHAPTER 187)
Table of Contents
Long Title
1 Short title
2 Interpretation
3 Scope of this Act
4 Authority responsible for administration of this Act
5 No person to carry on money-changing business without licence
6 No person to carry on remittance business without licence
7 Application for licence
7A Security deposit
7B Licensee not to open branch without Authority’s approval
7C Display of licence
8 Licence fees
9 Period for which licence is in force
9A False statements
10 Revocation of a licence
11 Effect of revocation
11A Records
11B Information to be furnished by licensees
12 Powers to investigate
12A Power to issue directives
13 Power to arrest
14 Liability of directors, partners, etc.
15 Service of order, etc.
16 Conduct of proceedings
17 Indemnity
17A Customers’ funds to be kept separately
17B Auditors
18 Regulations
18A Composition of offences
19 Exemptions
Legislative History