Compliance visits

(1) In this section “relevant person” means– (a) a licensee; (b) a former licensee; or (c) an associate of a licensee or of a former (2) The Board may, for a purpose or purposes specified in sub-section (3)22 (a) inspect the premises and the business, whether in or outside Belize, including the procedures, systems and controls, of a relevant person; (b) inspect the assets, including cash, belonging to or in the possession or control of a relevant person; (c) examine and make copies of documents belonging to or in the possession or control of a relevant person that, in the opinion of the Board, relate to the carrying on of gaming business by the relevant person; and (d) seek information and explanations from the officers, employees, agents and representatives of a relevant person, whether orally or in writing, and whether in preparation for, during or after a compliance visit. (3) A compliance visit may be undertaken for the following purposes– (a) the supervision of gaming business, including monitoring and assessing a relevant person’s compliance with– (i) this Act, the regulations made under this Act and any other law related to gaming; and (ii) any guidelines or directive issued by the Board; and (b) monitoring and assessing a relevant person’s compliance with his AML/CFT obligations. 23 (4) Subject to sub-section (5), the Board shall give reasonable notice to a relevant person of its intention to exercise its powers under sub-section (2). (5) Where it appears to the Board that the circumstances so justify, the Board may exercise its powers under sub-section (2) without giving notice of its intention to do so. (6) Subject to sub-section (7), the Board may, upon the request of a foreign regulatory authority, permit that authority to take part in a compliance visit undertaken by the Board under this section. (7) In deciding whether to permit a foreign regulatory authority to take part in a compliance visit under this section, the Board may take into account, in particular, whether, in its opinion– (a) the participation of the foreign regulatory authority– (i) is necessary for the effective supervision of the person to be subject to the compliance visit or its subsidiary or holding company; and (ii) is not contrary to the public interest; and (b) the foreign regulatory authority is subject to adequate legal restrictions on further disclosure and that it will not, without the written permission of the Board– (i) disclose obtained or documents examined or obtained during the compliance visit to any person other than an officer or employee of the authority engaged in prudential supervision; or 24 (ii) take any action on information obtained or documents examined or obtained during the compliance visit. (8) Subject to sub-section (5), a relevant person shall permit any employee of the Board or person appointed by the Board for the purpose to have access at any reasonable time to any of its business premises to enable that person to undertake a (9) The Regulations may specify circumstances in which the Board may require a licensee to contribute towards the costs of a compliance visit.