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 Part 5—Division 2 Section 33 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