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Moneylenders (Amendment) Bill

Bill No. 21/1969

Read the first time on 15th October 1969.

An Act to amend the Moneylenders Ordinance, 1959 (No. 58 of 1959).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

Short title and commencement

1. This Act may be cited as the Moneylenders (Amendment) Act, 1969, and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Amendment of section 2

2. Section 2 of the Moneylenders Ordinance, 1959 (hereinafter in this Act referred to as “the Ordinance”) is hereby amended by deleting the full-stop appearing at the end of paragraph (d) of the definition of “moneylender” therein and substituting therefor the expression “; or”, and by inserting immediately thereafter the following paragraph: —

“(e)	any finance company licensed under the Finance Companies Act, 1967 (Act 43 of 1967);”.

Amendment of section 5

3. Subsection (5) of section 5 of the Ordinance is hereby deleted and the following substituted therefor: —

“(5) Every licence shall come into operation on the date specified therein and shall be valid for a period of twelve months.”.

Amendment of section 17

4. Section 17 of the Ordinance is hereby amended —

(a)

by deleting the word “and” appearing at the end of paragraph (a) thereof; and

(b)

by deleting the full-stop appearing at the end of paragraph (b) thereof and substituting therefor the expression “; and”, and by inserting immediately thereafter the following paragraph: —

“(c)	the note or memorandum is presented for stamping within seven days after its execution.”.