Section 5

No person shall carry on or advertise that he carries on money-changing business unless he is in possession of a valid money-changer’s licence.

Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a fine not exceeding $10,000 for every day during which the offence continues after conviction.