TNAG-1818-FCO40-2579-Broadcasting-in-Hong-Kong-1988 — Page 49

A420

Ord. No. 69/88

(69 of 1988)

(69 of 1988)

Specific exemptions

MONEY LENDERS (AMENDMENT)

shall remain in force and continue to have effect as if section 17 or 23(a) and (b), as the case may be, of the Money Lenders (Amendment) Ordinance 1988 had never come into operation but the Registrar may, after consultation with the Financial Secretary, by notice in the Gazette, revoke any such notice.

(5) Where, at any time before the commencement of the Money Lenders (Amendment) Ordinance 1988, section 27(1) did not apply in relation to an agreement referred to in section 27(2) of this Ordinance as in force at any time before that commencement, then section 27(3) shall, in the like manner-

(a) be deemed never to have applied in relation to that

agreement; and

(b) not apply in relation to that agreement in so far as section 27(1) does not apply in relation to that agreement by virtue of subsection (4) of this section.

33B. (1) A person (whether a money lender or not) may make an application--

(a) in the prescribed form; and

(b) accompanied by the prescribed fee,

to the Registrar to be exempted from all or any of the provisions of this Ordinance.

(2) Where the Registrar receives an application under subsection (1) he shall, after consultation with the Financial Secretary, by notice in writing served on the person who made the application-

(a) grant the exemption subject to such conditions, if

any, as he may deem fit; or

(b) refuse to grant the exemption.

(3) Without limiting the generality of the Registrar's power under subsection (2)(a) to impose conditions on an exemption granted under that subsection-

(a) such conditions may include a condition that the exemption shall apply to a loan, or class of loans, specified in the exemption; and

(b) the Registrar may, by notice in writing served on the person to whom the exemption is granted, revoke, vary, or add to any condition subject to which the exemption is granted.

(4) An exemption granted under subsection (2)(a) shall be in the prescribed form and-

(a) may be revoked at any time by the Registrar by notice in writing served on the person to whom the exemption is granted; and