Licensing requirement for money changing: prior regulatory authorization is mandatory and unlicensed operations face statutory penalties. A licence is mandatory for conducting money changing business: only entities authorised by the central banking authority under the foreign exchange statute may undertake such activities, and carrying on money changing business without a valid licence attracts statutory penalties under the regulatory framework.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Licensing requirement for money changing: prior regulatory authorization is mandatory and unlicensed operations face statutory penalties.
A licence is mandatory for conducting money changing business: only entities authorised by the central banking authority under the foreign exchange statute may undertake such activities, and carrying on money changing business without a valid licence attracts statutory penalties under the regulatory framework.
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