What is the penalty imposed to a person found carrying out Remittance Business without a valid Remittance’s license?
Under Section 6 of the Money-Changing and Remittance Businesses Act (Chapter 174) a person who is found to carry out Remittance Business without a valid Remittance’s license shall be guilty of an offence and shall be liable on conviction to a fine not exceeding BND10,000 or imprisonment for a term not exceeding one year or to both.
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