6.—(1) An application for the renewal of a licence shall be made not later than one month before the expiry of the licence, in such form and manner as may be determined by the Registrar.
(2) For the purpose of subsection (1), every licensee must notify the Registrar at least one month before the expiry of his licence if he does not wish to renew his licence.
(3) The Registrar may renew a licence with or without conditions, or he may refuse to renew a licence.
(4) Without prejudice to section 7, the Registrar shall not renew a licence —
(a)
where any information or statement furnished by the licensee that is material to his application for the renewal of his licence under this section is incomplete, false or misleading;
(b)
where the licensee ceases to satisfy the requirements of the class or description of the licence to be renewed; or
(c)
where the licensee does not place or maintain with the Accountant-General as security for the proper conduct of his business of moneylending in Singapore, in such form as the Registrar may determine, a deposit of $20,000 for each place of business in respect of which his licence is to be renewed.
(5) Upon the renewal of a licence, the licence shall continue to be valid for a further period of 12 months or such other prescribed period as may be specified in the licence from the date immediately following that on which, but for its renewal, the licence would have expired.