1988 Ed.]
Money Lenders
[CAP. 163
23
(4) Any money lender who-
(a) fails to make a note or memorandum in writing of an agreement in compliance with section 18;
(b) fails to give a copy of such note or memorandum to the borrower in compliance with section 18(1)(a); or
(c) fails to include in or attach to such copy a summary in writing in compliance with section 18(1)(b),
commits an offence.
(5) Any money lender who demands or accepts security for a loan in any form prohibited by regulations made under section 34 commits an offence.
(6) Any money lender who fails to comply with any demand in writing made by a borrower under section 19 to supply any statement or copy of any document to the borrower or any person specified in the demand commits an offence.
(6A) Any money lender who fails to retain a copy of a statement referred to in section 19(1) supplied to him under section 19(1A) during the continuance of the agreement to which that statement relates commits an offence. (Added, 69 of 1988, s. 25)
(7) Any money lender who fails to give a surety any information to which the surety is entitled under section 20(1) or in respect of which the surety has made a request by notice in writing under section 20(2) commits an offence.
(8) Any money lender who issues or publishes, or causes to be issued or published, any advertisement, circular, business letter or other similar document which contravenes section 26(1) or (2) commits an offence. (Amended, 69 of 1988, s. 25)
(8A) Subject to subsection (8B), any money lender or other person who issues or publishes, or causes to be issued or published, any advertisement which contravenes section 26(3) commits an offence. (Added, 69 of 1988, s. 25)
(8B) Where a person is charged with an offence under subsection (8A) relating to an advertisement, it shall be a defence for such person to show-
(a) that he carries on the business of issuing or publishing or causing to be issued or published advertisements;
(b) that he received the advertisement for issuing or publishing or causing to be issued or published in the ordinary course of business; and
(c) that at the time he issued or published or caused to be issued or published the advertisement he believed upon reasonable grounds that the advertisement clearly showed the words "Money Lender's Licence No." immediately followed by the number of the licence of the money lender concerned. (Added, 69 of 1988, s. 25)
(9) Any money lender who for any of the purposes of his business uses any name other than the name specified in his licence commits an offence. (Amended, 69 of 1988, s. 25)
(10) Any money lender or his partner, employer, employee, principal or agent or any person acting for or in collusion with any money lender who charges, recovers or receives any sum as for or on account of any costs, charges