Section 5
of Money-Changing and Remittance Businesses Act
ActIn forceProvision 5 of 21
Section 5
(1)
No person shall carry on any money-changing business unless he is in possession of a valid money-changer's licence.
(2)
A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding one year or to both.