21. Records
Feedback & supportLast amended by an amending law of 2007. 3 amendments in all.
Every licensee shall keep complete records in the English language of all his or its transactions in such books, accounts, records and registers as the Authority may specify from time to time and shall produce such books, accounts, records and registers to the Authority as and when he or it is so directed in writing by the Authority.
licensee
“licensee” means the holder of a money-changer’s licence or a remittance licence, as the case may be;
Every licensee shall retain such books, accounts, records and registers for a period of at least 5 years after the day on which the transaction takes place.
Any licensee who contravenes any of the provisions of this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000. [16