TNAG-1818-FCO40-2579-Broadcasting-in-Hong-Kong-1988 — Page 45

A416

Prohibition of

excessive interest rates

Reopening of certain transactions

Restriction on money-lending advertisements

Charges for expenses etc.

not recoverable

Section substituted

Ord. No. 69/88

MONEY LENDERS (AMENDMENT)

such money or interest or to enforce such agreement or security, the court may order that the money lender is entitled to recover such money or interest or to enforce such agreement or security to such extent, and subject to such modifications or exceptions, as the court considers equitable.".

20. Section 24(5) is repealed and the following substituted-

"(5) Nothing in this section shall apply to-

Schedule 1

(a) a loan specified in paragraph 12 in Part 2 of

Schedule 1; or

(b) as respects such loan, any person who makes such

loan.".

21. Section 25 is amended by adding after subsection (9)—

"(9A) Nothing in this section shall apply to

Schedule 1

(a) a loan specified in paragraph 12 in Part 2 of

Schedule 1; or

(b) as respects such loan, any person who makes such

loan.".

22. Section 26 is amended-

(a)

in subsection (1) by repealing "as such" and substituting "as a money lender"; and

(b) by repealing subsection (3) and substituting—

23.

(a)

"(3) A money lender or any other person shall not for the purpose of the money lender's business as a money lender issue or publish or cause to be issued or published any advertisement which does not clearly show the words "Money Lender's Licence No." immediately followed by the number of the licence of the money lender.

(4) For the purposes of subsection (1) and section 29(9), the name of the money lender as specified in his licence shall be deemed to include any change by law of the name of the money lender, irrespective of whether his licence specifies the new name.".

Section 27 is amended-

in subsection (1) by repealing "Subject to subsection (2), any” and substituting "Any";

(b) by repealing subsection (2); and

(c) in subsection (3) by repealing "It" and substituting "Subject to

section 33A(5), it".

24. Section 28 is repealed and the following substituted-

"Power of

Registrar and police to enter premises and inspect books,

etc.

28. (1) Where-

(a) the Registrar or any other person authorized in writing for the purposes of this section by the Registrar; or

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