Revised Laws of Saint Lucia (2023)

REGISTRATION OF SUPERVISED ENTITIES REGULATIONS – SECTION 18

Commencement [11 April 2023]

1.   Citation

These Regulations may be cited as the Registration of Supervised Entities Regulations.

2.   Interpretation

In these Regulations —

“Act” means the Registration of Supervised Entities Act;

“Compliance Manual” means a document that contains the policies, procedures and internal controls of the person engaged in other business activity in relation to anti-money laundering, counter-terrorist financing and counter-proliferation financing.

3.   Application for registration

For the purposes of —

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   (a)     section 5(2)(a) of the Act, an application for registration is in Form 1 as set out in Schedule 1;

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   (b)     section 5(2)(c) of the Act, other documents or information are —

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      (i)     the Certificate of Incorporation or Certificate of Registration of a Business Name of the person engaged in other business activity,

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      (ii)     the filed corporate documents of the person engaged in other business activity, including a notice of directors, beneficial owners and shareholders,

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      (iii)     a certified copy of the licence, certificate of registration, practising certificate or professional registration document of the person engaged in other business activity,

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      (iv)     a copy of the Compliance Manual,

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      (v)     a Certificate of Good Standing, if applicable,

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      (vi)     any other document or information required by the Authority.

4.   Fee for registration

For the purposes of section 7(1) and (2) of the Act, the fee for registration is specified in Schedule 3.

5.   Form of Certificate of Registration

For the purposes of section 7(2)(b) of the Act, a Certificate of Registration is in the form set out in Part A of Schedule 2.

6.   Form of an application for renewal of registration

For the purposes of section 8(2)(a) of the Act, an application for renewal of registration is in Form 2 as set out in Schedule 1.

7.   Form of Declaration of Compliance or Non-Compliance

For the purposes of section 8(2)(b)(i) of the Act, a Declaration of Compliance or Non-Compliance is in Form 3 as set out in Schedule 1.

8.   Fee for renewal of registration

For the purposes of section 8(2)(b)(ii) of the Act, the fee for the renewal of registration is specified in Schedule 3.

9.   Form of Certificate of Renewal

For the purposes of section 8(3) of the Act, a Certificate of Renewal is in the form set out in Part B of Schedule 2.