Repeal

The Moneylenders (Body Corporate Exemption) Regulations and Moneylenders Rules are repealed. __________ 20 Moneylenders SCHEDULE I FORMS FORM 1 Application Form for Moneylender Licence [regulation 3(1)] APPLICATION FOR MONEYLENDERS LICENCE UNDER THE MONEYLENDERS ACT, CAP. 260 □ NEW APPLICATION □ RENEWAL APPLICATION □ MASTER AGENT MONEYLENDER □ MASTER AGENT PAWNBROKER □ SINGLE STORE MONEYLENDER □ SINGLE STORE PAWNBROKER 1. Name and address of applicant Full Name of Business: Physical Address of Business: Telephone Number of Business: Email Address of Business: Moneylenders 21 2. Beneficial owners(s)* - List below the names of the natural person(s) who has (have) ultimate ownership interest in the business or exercise control. % Ownership Full Legal Name (Surname/First Name/Middle Name) 3. Legal person† or nominee shareholders‡ - List the names of legal persons or nominee shareholders that hold shares in the business. Where the owner is a company, the ultimate natural person who owns the company is also to be named. (Indicate L for legal person or N for nominee shareholder) L or N % Ownership Name of Legal Person or Nominee Shareholder Total Shareholdings 100% * Beneficial owner means the natural person who ultimately owns or controls a legal person, or enjoys the rights and benefits associated with ownership or interest in the legal person but who may not necessarily be registered as the legal owner. † Legal person refers to any entity other than natural persons that can establish a permanent customer relationship or own property. ‡ Nominee shareholder refers to a company member holding the shares on behalf of the owner or beneficial owner. 22 Moneylenders 4. Directors and Officers - list below the names of the Chief Executive Officer, Financial Officer, Operations Officer, Compliance Officer, Directors, Senior Management and any other individual who participates in any directorial, managerial or executive decision of the business. Position Full Legal Name (Surname/ First Name/ Middle Name) 5. Contact Person - The individual listed as the contact person must be authorized to receive all information, communications and mailing and be responsible for disseminating such information within the applicant’s organization during the licence application process. Name: Title: Mailing Address: Phone Number: Email Address: Moneylenders 23 6. Indicate the legal status of applicant □ Corporation □ Sole Proprietorship □ Partnership □ Limited Liability Company □ Other (specify)…………… 7. Indicate date and place applicant obtained its legal status (if applicable). Country of incorporation/registration:………………………. Date of incorporation/registration: …………………………. Address of registered office: ……………………………….. 8. Indicate the services to be provided: □ Short term consumer loan (repaid within 12 months) □ Payday loans (repaid at next payday) □ Pawning (borrowing on security of a pledge) □ Other (specify) ………………………….…………… 9. Indicate the source of funds for start-up capital:………... 10. Applicant's financial year end: ………………………… 11. Indicate which financial institution the business banks with: ……………………………………………………. 12. Name of locations affiliated with your business. (Kindly attach an additional page, if necessary): Business Name Address of Location Licence No. No. of Employees Total Number of Employees 24 Moneylenders By signing this application, the applicant consents to the verification, by the Registrar, of any information provided in this or any other application. The applicant also agrees to authorize the named contact person to accept and carry out directives of the Registrar. I, ………………………………….. DECLARE, to the best of my knowledge and belief, that the information given above is true, correct and complete, and acknowledge that any misrepresentation or omission of a material fact, with respect to the foregoing, could prejudice this application. I undertake that, as long as I continue to be a director, shareholder, officer or manager of a moneylender licensed under the Moneylenders Act I will notify the Registrar of any material changes affecting the completeness of answers above within a period of 14 days. Signature: …………………………. Date: …………………. __________ Moneylenders 25 FORM 2 Moneylender Licence Application Requirement [regulation 3(2)] DOCUMENTS TO ACCOMPANY AN APPLICATION FOR MONEYLENDERS LICENCE UNDER THE MONEYLENDERS ACT, CAP. 260 Section 2A of the Moneylenders Act, requires the Registrar to determine whether persons who are identified as having relevant power, financial interest and position (owners, managers, directors, officers and associates) of a moneylending business are fit and proper to hold a licence. Therefore, all applicants must submit, to the Registrar, the required information as follows: Step 1 - Complete the Licence Application Form The contact person for the proposed moneylending business is required to fully complete the licence application form and submit it along with additional documentation. The submission will only be considered complete when all relevant information and documents have been provided and accepted by the Registrar. Step 2 - Complete the Personal Biographical Report Each owner/shareholder, beneficial owner, director, manager or officer and any other person who is or will be involved in the management or operation of the moneylending business/ proposed moneylending business§ is required to complete and sign a Personal Biographical Report Form. § Moneylending business includes the business of pawnbroking. 26 Moneylenders Step 3 - Provide Additional Information The following attachments MUST accompany an application for any class of moneylending licence. If identification documents submitted are not original, the copies of such documents must be notarized by a notary public, appointed and sworn in accordance with the Notaries Public Act, Cap. 129 of the Substantive Laws of Belize. Documents for a Natural Person: In the case of an individual who is an owner/ a shareholder, beneficial owner, director, manager, officer or associate of a moneylending business, the following information must be submitted for each person: • Personal Biographical Report; • Certificate of Registration issued under the Business Names Act, Cap. 247; • A copy of a valid Passport (bio-data page); • A police record from the Belize Police Department or other relevant authority of die relevant jurisdiction in the case of foreign shareholders, officers, directors, managers or associate; • Copy of audited financial statements of the company for the last year; and • A current list of associates of the applicant, including, the name of all beneficial owners that are legal person. Documents for a Legal Person: In the case of corporate entities, the following documents are to be submitted: • In the case of a company, a copy of the company’s Certificate of Incorporation issued under the Companies Act, Cap. 250 as well as its Memorandum and Articles of Association, as applicable; • In the case of a limited liability partnership, a copy of the Certificate of Registration, issued under the Limited Liability Partnership Act, Cap. 258; Moneylenders 27 • A certificate of good standing from the Companies Registry (if the company has been incorporated for a year or more); • Copy of audited financial statements of the company for the last year; and • A current list of associates of the applicant, including, the names of all beneficial shareholders that are legal persons. Other Documents: • An organizational chart showing ownership and management structure and relationships of the applicant; • A utility bill** to confirm proof of address for each location; and • A sample of the loan agreement to be used. Step 4 - Payment of Application and Licence Fee The application fee†† can be paid to The Belize Bank Limited, Scotiabank (Belize) Limited, Atlantic Bank Limited, Heritage Bank Limited, National Bank of Belize Limited or the Government of Belize’s Treasury Department, for the account of the Central Bank, using the following information: • Account Name: Other Licence Fees • Account Number: GL1CORP0505009; The original receipt on payment of the application fee must be submitted along with the application. On approval of the application for the licence, the applicant must pay the applicable licence fee in the same manner (above) as the application fee. ** In the case of a licence renewal, the utility bill provided must have been issued within three months of the date of the application. †† The application is non-refundable. 28 Moneylenders Note: The licence fee must be paid before the issue of the licence by the Registrar. Step 5 – Submission of Application Package The applicant must submit its completed forms with the relevant attachments to the Central Bank’s Mail Center at #1 Gabourel Lane, P.O. Box 852, Belize City, Belize. Step 6 - Application Review Process The Registrar will commence the review process for a licence application package only upon the receipt of a fully completed application package. Information required on the application form and Personal Biographical Report forms are not to be left unanswered. Photocopies of identification documents (e.g. Passport, social security cards) are to be by a notary public, appointed and sworn in accordance with the Notaries Public Act, Cap. 129 of the Substantive Laws of Belize. The contact person will be informed of the decision taken within 45 days of receipt of a fully completed application. Step 7 - Issuance of Licence Where approval has been granted to operate as a moneylender, the Registrar will issue a licence with specific conditions on the payment of the licence fee. __________ Moneylenders 29 FORM 3 Personal Biographical Report [regulation 3(3)] PERSONAL BIOGRAPHICAL REPORT UNDER THE MONEYLENDERS ACT, CAP. 260 Instructions: This Personal Biographical Report is to be completed by each owner, beneficial owner, director, officer, manager and any other person who is or will be involved in the management or operation of the person/business which is or applying to be licensed under the Moneylenders Act. For the purpose of this Report, copies of supporting documents submitted must be notarized in accordance with the Notaries Public Act, Cap. 129 of the Substantive Laws of Belize. 1. Section I - General Information Completed by. (Please tick the appropriate box indicating the proposed position to be held) □ Owner □ Director □ Manager □ Other □ Beneficial □ Officer □ Associate Please specify: Owner 2. Last Name First Name Middle Initial 3. Any other name(s) by which you are known or have previously been known 30 Moneylenders 4. Name of Spouse Any other name(s) by which he/she is known or has/have previously been known 5- Current Address: HOME BUSINESS 6. Previous home addresses during your professional lifetime (state relevant dates) 1. 2. 3. 4. 7. Date of Birth Day Month Year 8. PLACE OF BIRTH: (include town, city and country) 9. NATIONALITY (including dual nationality): Moneylenders 31 10. Provide notarized copies of passport (s): (a) Passport Number Date of Issue: Expiry Date: 11. How was your Belizean nationality acquired? (Please tick the appropriate box) □ BIRTH □ NATURALIZATION □ MARRIAGE □ OTHER (Specify) 12. If you are a non-national residing in Belize, please provide official documentation to support residency Section II - Employment 13. Present occupation or employment. State name of employer, nature of business and position held. EMPLOYER OCCUPATION NATURE OF BUSINESS CAPACITY 32 Moneylenders 14. Occupations) and employment during your professional lifetime. State name of employees), nature of business, positions) held and the relevant dates. If retired, please state dates of employment when active. DATE EMPLOYER OCCUPATION NATURE OF CAPACITY BUSINESS 15. a. State name, address (country of incorporation/ registration) of any company/business of which you are now an owner/ shareholder, beneficial owner or associate and indicate in which capacity you function: NAME OF BUSINESS ADDRESS CAPACITY b. State the % of your ownership/ interest in the company/ business and if applicable, indicate the number of shares or stock held in the company/ other business: NAME OF BUSINESS % OWNERSHIP/ SHAREHOLDING # OF SHARES, if applicable Moneylenders 33 16. a. State name and address (country of incorporation/ registration) of company/business of which you were, at any time, an owner/ shareholder, beneficial owner or associate. NAME OF BUSINESS ADDRESS CAPACITY b. State the highest % of your ownership/ interest in the company/ business and if applicable, indicate the number of shares or stock held in the company/ other business at that time: NAME OF BUSINESS # OF SHARES % SHAREHOLDINGS 17. State name and address (country of incorporation/ registration) of company/business of which you were, at any time, a director, officer, manager or in respect of which you were otherwise involved in management or operation: NAME OF COMPANY ADDRESS CAPACITY 34 Moneylenders 18. a Are you now or have you been involved in the ownership or management of a bank or financial institution?: ADDRESS TELEPHONE FAX CAPACITY DATES BANK/FINANCI AL INSTITUTION b. State name, telephone, fax numbers and mailing address of bank(s) where you bold deposit accounts and/or securities accounts: TELEPHONE FAX ADDRESS BANK/FINANCIAL INSTITUTION 19. Indicate the type of academic or professional qualifications possessed and the year in which they were obtained. PROFESSIONAL QUALIFICATIONS NAME OF INSTITUTION YEAR OBTAINED Moneylenders 35 Section III - Other Information 20. Have you been indicted or convicted in Belize or elsewhere for any criminal offence? If so, give full particulars of the court by which you were convicted, the offence, the date of conviction and the penalty imposed. OFFENCE DATE OF INDICTMENT PENALTY NAME OF DATE OF CONVICTION IMPOSED COURT 21. Have you, at any time, been declared bankrupt, suspended payment to or compounded with creditors? If so, give full particulars. 22. Have you, at any time, failed to satisfy any debt adjudged due and payable by you as a judgement-debtor under order of a court in any jurisdiction? If so, give full particulars. 23. Have you been dismissed from the management of a bank or any other financial institution for an act or conduct involving dishonesty or fraud? If so, give full particulars. 24. Have you been a director or have you been involved, in any manner, in the management of a bank or financial institution which has had its licence revoked in accordance with the laws of Belize or any other country? If so, give full particulars. 36 Moneylenders 25. Have you, in Belize or anywhere, been censured or disciplined by any professional body to which you belong or have belonged or have you ever held a practising certificate subject to conditions? If so give full particulars. 26. Has anybody corporate, partnership or unincorporated institution with which you were associated as a director, owner/ substantial shareholder, CEO or other similar position, been compulsorily wound up, suspended payments to or compounded with its creditors in Belize or elsewhere? If so, give full particulars including the date when you ceased to be associated with it. 27. In carrying out your functions at this moneylending/ pawn broking business will you be acting on the directions, influence or instructions of any other person? If so, give full particulars of the arrangement and the person. 28. Are you a politically exposed person (PEP)? A PEP is defined by the Section 2A of the Money Laundering and Terrorism (Prevention) Act as a person who is, or has been, entrusted with a prominent public function, a family member or close associate of a person who is, or has been entrusted with a prominent public function in Belize or any other country. If yes, indicate the nature of the relationship. Moneylenders 37 I, ………………………………………………… DECLARE, to the best of my knowledge and belief, that the information given above is true, correct and complete, and acknowledge that any misrepresentation or omission of a material fact, with respect to the foregoing, could prejudice this application. I undertake that, as long as I continue to be a director, owner/shareholder, officer, manager or associate of a moneylender licensed under the Moneylenders Act, I will notify the Registrar of any material changes affecting the completeness of answers above within a period of 14 days. Signature: ………………………. Date: ..…………….. __________ 38 Moneylenders FORM 4 Moneylender License – Single Store Moneylender [regulation 6(1)] LICENCE NO.SSM SINGLE STORE MONEYLENDERS LICENCE Is hereby granted to to carry on the business of a Moneylender at the location listed below, subject to requirements of section 2 of the Moneylenders Act, Chapter 260 of the Substantive Laws of Belize. [Insert Location] Director, Board of Directors Central Bank of Belize Governor, Central Bank of Belize and Registrar of Moneylenders Effective this day of THIS LICENCE EXPIRES ON __________ Moneylenders 39 FORM 5 Moneylender License – Master Agent Moneylender [regulation 6(2)] LICENCE NO.MAM MASTER AGENT MONEYLENDER LICENCE is hereby granted to to carry on the business of a Moneylender at the locations listed below, subject to requirements of section 2 of the Moneylenders Act, Chapter 260 of the Substantive Laws of Belize. [Insert Location] Director, Board of Directors Central Bank of Belize Governor, Central Bank of Belize and Registrar of Moneylenders Effective this day of THIS LICENCE EXPIRES ON __________ 40 Moneylenders FORM 6 Moneylender License – Single Store Pawnbroker [regulation 6(3)] LICENCE NO. SSP SINGLE STORE PAWNBROKER LICENCE Is hereby granted to to carry on the business of a Pawnbroker at the location listed below, subject to requirements of section 2 of the Moneylenders Act, Chapter 260 of the Substantive Laws of Belize. [Insert Location] Director, Board of Directors Central Bank of Belize Governor, Central Bank of Belize and Registrar of Moneylenders Effective this day of THIS LICENCE EXPIRES ON __________ Moneylenders 41 FORM 7 Moneylender License – Master Agent Pawnbroker [regulation 6(4)] LICENCE NO.MAP MASTER AGENT PAWNBROKER LICENCE Is hereby granted to to carry on the business of a Pawnbroker at the locations listed below, subject to requirements of section 2 of the Moneylenders Act, Chapter 260 of the Substantive Laws of Belize. [Insert Location] Director, Board of Directors Central Bank of Belize Governor, Central Bank of Belize and Registrar of Moneylenders Effective this day of THIS LICENCE EXPIRES ON __________ 42 Moneylenders SCHEDULE II Fees PART A Application Fees [regulation 4] Type of Licence Type of Application Fee Single Store Moneylender Initial 25% of Licence Fee Renewal nil Master Agent Moneylender Initial 50% of Licence Fee Renewal nil Single Store Pawnbroker Initial 25% of Licence Fee Renewal nil Master Agent Pawnbroker Initial 50% of Licence Fee Renewal nil Moneylenders 43 PART B Licence Fees [regulation 5] Type of Licence Fees Initial Licence Renewal Licence Single Store Moneylender $1,000 $500 Master Agent Moneylender $1,000 $500 Single Store Pawnbroker $1,000 $500 Master Agent Pawnbroker $1,000 $500 MADE by the Registrar this 26th day of October, 2017. A. JOY GRANT Governor, Central Bank of Belize Registrar APPROVED by the Minister responsible for finance this 6th day of November, 2017. DEAN O. BARROW Prime Minister and Minister of Finance and Natural Resources __________