A licence to carry on money services business is valid from the date of first issue to the 31st December of that year and is renewable each year on payment of the prescribed annual fee on or before the 15th day of January.

If the Commission has reasonable cause to suspect that any person is carrying on money services business without a licence granted under the Money Services Business Act, No. 26 of 2008, and evidence of contravention of required license is to be found on any premises the Financial Services Regulatory Commission may relay the matter before a Magistrate with regards to its suspicions.