Central Bank’s authority to obtain names of shareholders

(1) The Central Bank shall have the authority to obtain particulars of the names and addresses of the ultimate beneficial owners of a licensee who hold shares of a value of five percent or more of its paid-up capital in cases where the shareholders of record are bodies corporate or other entities, or where the Central Bank has reason to believe that the shareholders of record are acting as nominees for or under the directive of any other person, notwithstanding anything to the contrary contained in any other law. (2) Any licensee that fails to comply with the requirements of this Section commits an offence and shall on summary conviction be liable to pay a fine of twenty five thousand dollars for every day that it fails to supply the information referred to in sub-sections (1) and (2) following the date by which the Central Bank, by written request, requires such information to be supplied.