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