Page:Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap. 615).pdf/51

Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions)
Ordinance

---

33. Form of licence

A licence is to be in a form specified by the Commissioner and must—

(a) specify—

(i) in relation to a licence to operate a money service at specified premises, the address of every premises at which the licensee may operate a money service; or

(ii) in any other case, the correspondence address of the licensee;

(b) be endorsed with the conditions imposed or amended under section 30, 31 or 32; and

(c) specify the period for which the licence is valid.

34. Revocation or suspension of licence

(1) The Commissioner may exercise any of the powers specified in subsection (2) if—

(a) the Commissioner is of the opinion that in relation to a licence—

(i) where the licensee is an individual—

(A) the individual is no longer a fit and proper person to operate a money service; or

(B) if there is an ultimate owner in relation to the individual, the ultimate owner is no longer a fit and proper person to be associated with the licensee’s business of operating a money service;

(ii) where the licensee is a partnership—

(A) any partner in the partnership is no longer a fit and proper person to operate a money service; or