(1) A principal shall provide the Bank of Ghana with the following information about an agent within thirty days of the appointment of the agent:

(a) information about the agent and the business organisation of the agent, including the names of all persons and the identification or business registration numbers;

(b) the physical location, global positioning system coordinates and telephone numbers;

(c) a description of the commercial activities the agent has been carrying on for the last twelve months before the date of the application;

(d) a copy of the agency agreement stating any variations in the terms and conditions from the standard agency agreement and assigning reasons for these variations;

(f) the financial services to be provided by the agent and the transaction limits; and

(g) any other information that the Bank of Ghana may require.

(2) The principal shall notify the Bank of Ghana of any change in the information mentioned in subsection (1) within ten days of the change.

(3) A principal who contravenes subsection (2), is liable to pay to the Bank of Ghana an administrative penalty of five hundred penalty units.