15. The Authority may refuse to issue a licence to a money-services business if a person or an entity who directly or indirectly owns or controls the money-services business has been convicted of an offence under any of the Acts referred to in paragraph 1 of section 12, unless a pardon has been obtained.
The same applies if that person or entity has directly or indirectly owned or controlled another money-services business in any situation described in paragraphs 5 to 7 of section 14.
2010, c. 40, Sch. I, s. 15; 2013, c. 18, s. 84.