Section 50G, The Other Financial Services (Amendment) Act, 2007.

The holder of a dealer’s, broker’s or fund manager’s licenceshall not carry on its licensed activity when it eases to have in its employment or service at lease one person who holds a representative’s licence. 59H. (1) In deciding whether a person should hold a licence under this Part, the Central Bank may enquire into any transactions involving the purchase or sale of securities entered into by that person, whether directly or indirectly, during any period of twelve months preceding the application for the licence or renewal of the licence (referred to in this section as the relevant period), to ascertain if that person has in such transaction or series of transactions used dishonest, unfair or unethical methods or trading practices, whether such method or trading practices constitute an offence under this Act or not. (2) For the purposes of subsection (1), the Central Bank may, in such form and within such times as it may specify by notice in writing, require the person and, in the case of a dealer, broker or investment adviser, his representative to submit detailed information of all or any transactions involving the purchase or sale of securities, whether such transactions were completed during the relevant period before or after the commencement of this Act. (3) Any person who, without reasonable excuse, fails or refuses to submit information to the Central Bank, within the time specified in the notice referred to in subsection (2) or who gives false or misleading information shall, in addition to any other penalty that may be imposed under this Act, be liable, in the case of an application for renewal of a licence, to have his licence revoked under section 50M and in the case of a first application for a license, to have the application refused.