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Holder of authorisation to ensure that principal officers and beneficial owners are fit and proper persons.
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95.— (1) The holder of an authorisation shall take reasonable steps to ensure that the following persons are fit and proper persons:
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(a) in a case where the holder of the authorisation is a body corporate, a partnership or an individual carrying on business as a trust or company service provider as a partner in a partnership, any principal officer of the body corporate or partnership (as the case may be);
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(b) any person who is a beneficial owner of the business concerned.
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(2) A person who commits an offence under this section is liable—
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(a) on summary conviction, to a fine not exceeding €2,000, or
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(b) on conviction on indictment, to a fine not exceeding €100,000.
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