Notification of changes in senior management and directors

(1) A moneylender shall provide the Registrar with written notice of any change in its senior management or directors, whether as a result of a member of senior management or director ceasing to hold office or the appointment of a new member of senior management or director. (2) A written notice under sub-section (1) shall– (a) specify the date of the change; (b) include the full name of the member of senior management or director who has ceased to be, or has been appointed as, a member of senior management or director; and (c) be provided to the Registrar within 14 days of– (i) the change occurring, in the case of the appointment or resignation of a member of senior management or director, or (ii) the moneylender first becoming aware of the change, in the case of the death of a member of senior management or (3) A moneylender that fails to provide written notice of a change in its senior management or directors in accordance with this section commits an offence and is liable on summary conviction to a fine not exceeding seventy five thousand dollars. 28