Page:Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap. 615).pdf/52

Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance Part 5—Division 2 Section 34 :::(B) if there is an ultimate owner in relation to the partnership, the ultimate owner is no longer a fit and proper person to be associated with the licensee’s business of operating a money service; or
 * (iii) where the licensee is a corporation—
 * (A) any director of the corporation is no longer a fit and proper person to be associated with the licensee’s business of operating a money service; or
 * (B) if there is an ultimate owner in relation to the corporation, the ultimate owner is no longer a fit and proper person to be associated with the licensee’s business of operating a money service; or
 * (b) a licensee operates a money service at any domestic premises, and—
 * (i) any occupant of the premises revokes his or her written consent previously given for any authorized person as defined by section 8 to enter the premises for the purpose of exercising the powers under section 9; or
 * (ii) any new occupant of the premises refuses to give such a written consent.

(2) The specified powers are—
 * (a) to revoke the licence; or
 * (b) to suspend the licence for a period specified by the Commissioner or until the occurrence of an event specified by the Commissioner.

(3) The Commissioner may only exercise a power under subsection (1) after giving the licensee a reasonable opportunity to be heard.