Restricted “B” Class International banking licence

(1) No company shall apply for, or obtain, or be eligible to hold, a “B” Class international banking licence under this Act unless it maintains at all times capital equivalent to not less than one million dollars or, in the case of a foreign bank, not less than fifteen million dollars. The capital shall be expressed in dollars or in any other foreign currency as the Central Bank may approve in writing. (2) The holder of a “B” Class international banking licence shall– (a) establish, maintain and operate a business office in Belize; and (b) transact only such international banking business as may be specified in the licence. (3) In addition, the holder of a “B” Class international banking licence is prohibited from– (a) soliciting or accepting any deposits of money or any other valuable property from the general public; and (b) issuing to any depositor a cheque book or providing any current deposit or chequing account facilities for the transaction of his