Moneylenders Act(CHAPTER 188)
Table of Contents
Long Title
1 Short title
2 Interpretation
3 Certain persons and firms presumed to be moneylenders
4 Appointment of Registrars
5 Licences to be taken out by moneylenders
6 Particulars to be shown on licences
7 List to be published
8 Offences
9 Grounds for refusing licence
10 Revocation of licence
11 Names to be stated on documents issued by moneylenders
12 No circular implying a banking business to be issued
13 Restriction on moneylenders’ advertisements
14 Board to be affixed at place of business of moneylender
15 Contract by unlicensed moneylender unenforceable
16 Note or memorandum of moneylender’s contract to be given to borrower
17 Stamping of note or memorandum
18 Prohibition of compound interest
19 Accounts to be kept in permanent books
20 Obligation to supply information as to state of loan and copies of documents relating thereto
21 Provisions as to bankruptcy proceedings for moneylenders’ loans
22 Accounts under section 20 to be produced when suing in court
23 Prescribed maximum rate of interest
24 Burden of proof of amount lent
25 Repayment of loan
26 Prohibition of charge for expenses on loans by moneylender
27 Calculation of interest
28 Notice and information to be given on assignment of moneylender’s debts
29 Application of this Act as respects assignees
30 Attestation of certain promissory notes
31 Penalty for taking promissory note in which amount left blank or not truly stated
32 False statements or representations to induce borrowing an offence
33 Harassing debtor, besetting his residence, etc.
34 Special provisions relating to non-resident principal
35 Powers of police officer
35A Jurisdiction of courts
36 Power of Minister to grant exemptions
37 Rules
FIRST SCHEDULE Statement of account
SECOND SCHEDULE Calculation of interest where the interest charged on a loan is not expressed in terms of a rate
THIRD SCHEDULE Calculation of interest where repayment is by equal instalments
Legislative History