1988 Ed.]
Money Lenders
[CAP. 163
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(b) he is purporting to act as such officer; or
(c) the company is managed by its members, of whom he is one.
(Amended, 69 of 1988, s. 28)
Penalties and disqualification
32. (1) Any person who commits an offence under this Ordinance shall be liable
(a) in the case of an offence under section 29, to a fine of $100,000 and to imprisonment for 2 years;
(b) in the case of any other offence for which no penalty is provided, to a fine of $10,000 and to imprisonment for 6 months.
(2) Where any person is convicted of an offence under this Ordinance, the magistrate may order that such person shall be disqualified from holding a licence for such period not exceeding 5 years from the date of such conviction as may be specified in the order.
(3) A licence held by any person against whom an order is made under subsection (2) shall, as from the date of the order, cease to have effect for the purposes of this Ordinance.
Time limitation for instituting certain prosecutions
32A. Proceedings for an offence under section 24 or 29(3) shall be instituted within 2 years of the commission of the offence.
(Added, 69 of 1988, s. 29)
Burden of proof
33. (1) When in any proceedings under this Ordinance against any person it is alleged that such person is not the holder of a licence, it shall in the absence of proof to the contrary be presumed that such person is not licensed.
(2) When in any proceedings under this Ordinance against any person it is alleged that-
(a) such person is not a person specified in Part 1 of Schedule 1; or
(b) that a loan alleged to have been made by such person is not a loan specified in Part 2 of Schedule 1,
the fact so alleged shall in the absence of proof to the contrary be presumed. (Amended, 69 of 1988, s. 30)
General exemptions
33A. (1) The Registrar may, after consultation with the Financial Secretary, by notice in the Gazette-
(a) exempt a class of persons (whether money lenders or not) specified in the notice from all or any of the provisions of this Ordinance specified in the notice; or