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Moneylenders Act

(CHAPTER 188)

Status:

Revised Edition
published on 31 Mar 2010

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Moneylenders Act
(CHAPTER 188)

Table of Contents

Long Title

Part I PRELIMINARY

1 Short title and commencement

2 Interpretation

3 Persons presumed to be moneylenders

4 Appointment of Registrar, etc.

Part II LICENSING OF MONEYLENDERS

5 No moneylending except under licence, etc.

6 Renewal of licences

7 Other grounds for refusing to issue or renew licence, etc.

8 Licence fee

9 Revocation or suspension of licence

10 Approval of places of business

11 Forfeiture of security deposit

12 Approval and notification of change of profile

13 Publication of lists

14 Unlicensed moneylending

15 Other offences under this Part

Part IIA FREEZING OF PROCEEDS OF UNLICENSED MONEYLENDING

15A Interpretation of this Part

15B Proceeds of unlicensed moneylending

15C Order specifying proceeds of unlicensed moneylending

15D Orders: further provisions

15E Freezing proceeds of unlicensed moneylending

15F Exception

15G Circumvention of section 15E

15H Licences

Part III REGULATION OF BUSINESS OF MONEYLENDING, ENFORCEMENT AND PROCEEDINGS

16 Regulation of advertising and marketing, etc.

17 Prohibition of unsolicited loans

18 Signage at place of business

19 Licensees to inform borrowers of terms of loan

20 Note of moneylender’s contract to be given to borrower

21 Provision of statements of account, loan documents and receipts

22 Charges other than permitted fees unenforceable

23 Re-opening of certain transactions

24 Accounts to be kept and submissions to Registrar

25 Power to inspect, and require information or documents

25A Power to obtain information from Comptroller of Income Tax

26 General power to issue directions

27 False statements or representations to induce borrowing an offence

28 Harassing borrower, besetting his residence, etc.

28A Abetment of section 28

28B Offences involving minors below 16

28C Offence of providing false contact information

29 Special provisions relating to non-resident principal

30 Powers of police officer

30A Public Prosecutor’s power to order inspection of customer information

Part IV MISCELLANEOUS

31 Certain offences seizable and non-bailable

32 Jurisdiction of court

32A Examination of offenders

33 Offences by bodies corporate, etc.

34 Composition of offences

35 Exemption on application

36 Class exemption

37 Rules

38 Transitional and savings provisions

Legislative History

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Table Of Contents

Moneylenders Act

Status:

Revised Edition
published on 31 Mar 2010

Moneylenders Act (CHAPTER 188)

Print
Help

Table of Contents

Moneylenders Act
(CHAPTER 188) Long Title Part I PRELIMINARY

1 Short title and commencement

2 Interpretation

3 Persons presumed to be moneylenders

4 Appointment of Registrar, etc.

Part II LICENSING OF MONEYLENDERS

5 No moneylending except under licence, etc.

6 Renewal of licences

7 Other grounds for refusing to issue or renew licence, etc.

9 Revocation or suspension of licence

10 Approval of places of business

11 Forfeiture of security deposit

12 Approval and notification of change of profile

13 Publication of lists

14 Unlicensed moneylending

15 Other offences under this Part

Part IIA FREEZING OF PROCEEDS OF UNLICENSED MONEYLENDING

15A Interpretation of this Part

15B Proceeds of unlicensed moneylending

15C Order specifying proceeds of unlicensed moneylending

15D Orders: further provisions

15E Freezing proceeds of unlicensed moneylending

15G Circumvention of section 15E

Part III REGULATION OF BUSINESS OF MONEYLENDING, ENFORCEMENT AND PROCEEDINGS

16 Regulation of advertising and marketing, etc.

17 Prohibition of unsolicited loans

18 Signage at place of business

19 Licensees to inform borrowers of terms of loan

20 Note of moneylender’s contract to be given to borrower

21 Provision of statements of account, loan documents and receipts

22 Charges other than permitted fees unenforceable

23 Re-opening of certain transactions

24 Accounts to be kept and submissions to Registrar

25 Power to inspect, and require information or documents

25A Power to obtain information from Comptroller of Income Tax

26 General power to issue directions

27 False statements or representations to induce borrowing an offence

28 Harassing borrower, besetting his residence, etc.

28A Abetment of section 28

28B Offences involving minors below 16

28C Offence of providing false contact information

29 Special provisions relating to non-resident principal

30 Powers of police officer

30A Public Prosecutor’s power to order inspection of customer information

Part IV MISCELLANEOUS

31 Certain offences seizable and non-bailable

32 Jurisdiction of court

32A Examination of offenders

33 Offences by bodies corporate, etc.

34 Composition of offences

35 Exemption on application

36 Class exemption

38 Transitional and savings provisions

Legislative History

Moneylenders Act

Status:

Revised Edition published on 31 Mar 2010

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Persons presumed to be moneylenders

3. Any person, other than an excluded moneylender, who lends a sum of money in consideration of a larger sum being repaid shall be presumed, until the contrary is proved, to be a moneylender.

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