Display of licence and payment of fees

(1) Any licence granted under this Act shall be displayed and kept displayed in a conspicuous place where the licensee conducts business, and certified copies shall be similarly displayed in each of its branch offices in Belize. (2) Every licensee shall, upon the issuance of a licence, pay to the Central Bank the initial licence fee prescribed by regulations made pursuant to this Act. (3) Every licensee shall pay to the Central Bank not later than the second day of January of each succeeding year, the annual licence fee prescribed by regulations made pursuant to (4) Every licensee who defaults in paying the annual licence fee in respect of a licence granted under this Act by the due date and who continues to transact banking business or financial business, as the case may be, shall be liable to pay, on being called upon by the Central Bank to do so, an initial fee of ten thousand dollars and a sum of five thousand dollars for each day in which the contravention continues.