Second Sobeduk.
First Schedule.
Second Schedule.
Exempton.
Sebedule.
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"effective rate", in relation to interest, means the true annual percentage
rate of interest calculated in accordance with the Second Schedulc; "firm" means an unincorporate body of 2 or more individuals, or I or more individuals and 1 or more bodies corporale, or 2 or more bodies corporate, who have entered into partnership with one another with a view to carrying on business for profit;
"interest" does not include any sum lawfully agreed to be paid in accord- ance with this Ordinance on account of stamp duty or other similar duty, but save as aforesaid includes any amount (by whatever name called) in excess of the principal, which amount has been or is to be paid or payable in consideration of or otherwise in respect of a loan; "licence" means a money lender's licence issued under section 8 or 13.
and “licensed" and "licensee", have corresponding meanings; "licensing court" has the meaning assigned to it by section 10:
"load" includes advance, discount, money paid for or on account of or on behalf of or at the request of any person, or the forbearance to require payment of money owing on any account whatsoever, and every agreement (whatever its terms or form may be} which is m substance or effect a loan of money, and also an agreement to secure the repayment of any such loas, and "land" and "lender" shall be construed accordingly.
"money lender" means every person whose business (whether or not he carries on any other business) is that of making loans or who advertines or announces himself or holds himself out in any way as carrying on that business, but does not include a person specified in Part 1 of the First Schoduls;
"prescribed" means prescribed by regulations made vader section 34: "principal", in relation to a loan, means the amount actually lent; "register" means the register kept by the Registrar under section 45 "Registrar" means the Registrar of Money Lenders appointed under
section 4.
(2) For the purposes of this Ordinance, where by an agreement for the lown of money the interest charged on the loan is not expressed in terms of a rate, any amount paid or payable to the lender under the agreement (other than simple interest charged in accordance with the proviso to section 22) shall be appropriated to principal and interest in the proportion that the total amount of principal Gears to the total amount of the interest, and the rate per cent per annum represented by the interest charged as calculated in accordancs with the Second Schedule shall be deemed to be the rate of interest charged on the loan,
(3) For the purpose of determining the amount of the principal of a loan, any amount thereof which is not shown to have been lent except for the purpose of treating it as an instalment paid by the borrower in repayment of the loan and which is so treated by the lender shall be disregarded.
3. (1) Parts (1 and III shall not apply to-
(b) any person specified in Part 1 of the First Schedule; or
(b) as respects a loan specified in Part 2 of the First Schedule, any
person who makes such loan.
(2) The Legislative Council may by resolution amend the First Schedule.
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4. (1) The Governor shall appoint a public officer to be the Rebinar Registrar of Money Lenders.
(2) The Registrar shall establish and maintain a register in which he shall cause to be kept particulars, other than specified particulars, of-
(a) applications for the issue or renewal of Licences;
(0) licences which are in force or have been revoked or suspended; (c) such other matters, if any, as he thinks fit.
(3) In this section "specided particulars" means particulars furnished under section 8 which are specified in regulations made under section 34 as particulars which shall not be entered in the register.
of Money Lenders HE BAL PETVERZONY
tuberone of Regbuar.
5. (1) Except as may be necessary for the exercise or performance Obuki of any function or duty under this Ordinance or for carrying into effect crecy. the provisions of this Ordinance, the Registrar and every person employed in carrying out or in assisting any person to carry out the provisions of this Ordinan❤--
(a) shall preserve and aid in preserving secrecy with regard lo alt matters relating to the affairs of any person that may come to his knowledge in the exercise or performance of any function or duty under this Ordinance;
(b) shall not communicate any such matter to any person other than
the person to whom much matter relates, and
(c) shall not suffer or permit any person to have access to any records in the posscasion, custody or control of any perado to whom this subsection applies.
(2) Subsection (1) does not apply-
(a) to the disclosure of information in the form of a summary of similar information provided by a number of persons if the summary is so framed as to prevent particulars relating to the business of any particular person being ascertained from it; or (b) to the disclosure of information for the purpose of any legal proceedings in respect of an offence, or for the purpose of any report of any such proceedings.
(3) Any person who-
(a) contravenes subsection (1); or
(6) aidu abets, counsels or procuses any person to contravene
subsection (1)
commily an offence and shall be liable to a fine of $100,000 and to imprisonment for 2 years.
Печу
6. (1) Any person shall be entitled on payment of the prescribed Inspeedos
(2) to inspect the register during ordinary office bours and take copies
of any entry; or
(b) to obtain from the Registrar a copy, certified by or under the authority of the Registrar to be correct, of any entry in the register.
(2) The Registrar shall give public notice, in such manner as be may dec 6 of the place where and the times when the register may be inspected
el register.
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