Moneylenders Act 2008

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1 Short title and commencement

3 Persons presumed to be moneylenders

4 Appointment of Registrar, etc.

5 No moneylending except under licence, etc.

6 Renewal of licences

7 Licensees to be companies

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

10 Revocation or suspension of licence

11 Approval of places of business

12 Forfeiture of security deposit

13 Approval before employing or engaging assistant, etc.

14 Approval, notification and submission of information relating to person taking part in management, etc.

15 Approval of change in business name

16 Notification of certain events

17 Approval concerning substantial shareholding

18 Publication of lists

19 Unlicensed moneylending

20 Other offences under this Part

21 Interpretation of this Part

22 Proceeds of unlicensed moneylending

23 Order specifying proceeds of unlicensed moneylending

24 Orders: further provisions

25 Freezing proceeds of unlicensed moneylending

27 Circumvention of section 25

29 Regulation of advertising and marketing, etc.

30 Prohibition of unsolicited loans

31 Signage at place of business

32 Licensees to inform borrowers of terms of loan

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

34 Provision of statements of account, loan documents and receipts

35 Charges other than permitted fees unenforceable

36 Maximum rate of interest and late interest

37 Reopening of certain transactions

38 Accounts, etc., to be kept and submissions to Registrar

39 Audit of licensee’s accounts

40 Powers of auditor appointed by Registrar

41 Restriction on right to communicate certain matters relating to audit of licensee’s accounts

42 Offence to destroy, conceal, etc., records to prevent, delay, etc., audit of licensee’s accounts

43 Power to inspect, and require information or documents

44 Power to obtain information from Comptroller of Income Tax

45 General power to issue directions

46 False statements or representations to induce borrowing an offence

47 Harassing borrower, etc.

48 Abetment of section 47

49 Offences involving minors below 16

50 Offence of providing false contact information

51 Special provisions relating to non-resident principal

52 Powers of police officer

53 Public Prosecutor’s power to order inspection of customer information

54 Interpretation of this Part

55 Application of this Part

56 Designation, etc., of designated credit bureau

57 Functions of designated credit bureau

58 Cancellation of designation by Registrar

59 Application by designated credit bureau to cancel designation

60 Power to issue directions

61 Registrar’s control over designated credit bureau

62 Assumption of control

63 Other provisions concerning assumption of control

64 Responsibilities of directors, officers, etc., of designated credit bureau during period of control

65 Remuneration and expenses of statutory manager

66 Duties to obtain and submit borrower information, etc., before granting loan

66A Obtaining, etc., information and requesting credit report in relation to surety

67 Credit report to be disposed of or kept by licensee

68 Duty to submit information of repayments and instalments

69 Duty to maintain confidentiality of borrower information

70 Duty to maintain security and integrity of borrower information, etc.

71 Duty to correct borrower information

72 Duty to submit borrower information to Registrar

73 Duties under this Part applicable in relation to persons with revoked or expired licences

74 Production of credit reports and charging of fees, etc.

74A Business report in relation to licensee

75 Duties relating to borrower information

76 Duty to maintain security and integrity of data

77 Duty to provide loan information report

77A Disposal of report delivered in error

78 Correction of data, etc., on request

79 Obligation to notify Registrar of certain events

80 Obligation to provide information to Registrar

81 Disclosure of borrower information and data to public agencies

81A Registrar may share information pursuant to data sharing direction

82 Audit of designated credit bureau’s accounts

83 Powers of auditor appointed by Registrar

84 Restriction on auditor’s and employee’s right to communicate certain matters

85 Offence to destroy, conceal, alter, etc., records

86 Certain offences arrestable and non-bailable

87 Jurisdiction of court

88 Examination of offenders

89 Offences by bodies corporate, etc.

90 Composition of offences

91 Exemption on application

94 Transitional and saving provisions

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