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E-12.000001 - Money-Services Businesses Act

Section 15
Disposition versions

Full text
15. The Minister may refuse to issue a licence to a money-services business if a person or an entity who directly or indirectly owns or controls the money-services business
(1)  has been convicted of an offence under any of the Acts referred to in paragraph 1 of section 12, unless a pardon has been obtained; or
(2)  is in any of the situations described in paragraphs 4 to 9 of section 12.
The same applies if that person or entity has directly or indirectly owned or controlled another money-services business in any situation described in paragraphs 5 to 7 of section 14.
2010, c. 40, Sch. I, s. 15; 2013, c. 18, s. 84; 2020, c. 5, s. 41.
15. The Authority may refuse to issue a licence to a money-services business if a person or an entity who directly or indirectly owns or controls the money-services business has been convicted of an offence under any of the Acts referred to in paragraph 1 of section 12, unless a pardon has been obtained.
The same applies if that person or entity has directly or indirectly owned or controlled another money-services business in any situation described in paragraphs 5 to 7 of section 14.
2010, c. 40, Sch. I, s. 15; 2013, c. 18, s. 84.
15. The Authority may refuse to issue a licence to a money-services business if a person or an entity who directly or indirectly owns or controls the money-services business has been convicted of or pleaded guilty to an offence under any of the Acts referred to in paragraph 1 of section 12, unless a pardon has been obtained.
The same applies if that person or entity has directly or indirectly owned or controlled another money-services business in any situation described in paragraphs 5 to 7 of section 14.
2010, c. 40, Sch. I, s. 15.
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