Licensing

(1) No person shall, in or from within Belize, carry on or hold himself out as carrying on business as a manager or administrator of mutual funds unless that person is licensed for the purpose under this Act. (2) Subsection (1) of this section does not apply to a person who, (a) is not ordinarily resident or domiciled in Belize; (b) is a manager or administrator of mutual funds (by whatever name called) under the laws of a recognised country or jurisdiction; and (c) has received written permission from the Minister to carry on business as manager or administrator of mutual funds in or from within Belize.