(1) A person shall not carry on business as a cheque cashing office unless the person is registered under this section.
(2) A person who contravenes subsection (1) commits an offence and is liable -
(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or
(b) on conviction on indictment, to a fine not exceeding €500,000 or imprisonment for a term not exceeding 3 years (or both).
(3) Save to the extent that such procedures are provided for under this section, the Bank may specify procedures for registering under this section.
(4) An individual, body corporate or partnership may apply to the Bank to be registered under this section.
(5) An application for registration under this section shall -
(a) be in a form provided or specified by the Bank,
(b) specify the name of -
(i) the applicant,
(ii) in a case where the applicant is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may
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