20142-1911-Ordinances-passed-and-assented-to--Money-lenders-No-16-of-1911 — Page 3

THE HONGKONG GOVERNMENT GAZETTE, MAY 19, 1911.

(5.) Nothing in the foregoing provisions of this section shall affect the rights of any bona fide assignee or holder for value without notice.

(6.) Nothing in this section shall be construed as derogating from the existing powers or jurisdiction of any Court.

3.--(1.) A money-lender as defined by this Or- Registration dinance :-

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of money.

(«.) shall register himself as a money-lender in lenders, &c.

accordance with regulations under this Ordinance at an office provided for the purpose by the Governor-in-Council, under his own or usual trade name and in no other name, with the address, or all the addresses if more than one, at which he carries on his business of money-lender ;

and

(b.) shall carry on the money-lending business in his registered name, and in no other name, and under no other description, and at his registered address or addresses, and at no other address ; and

(c.) shall not enter into any agreement in the course of his business as a money-lender with respect to the advance and repayment of money, or take any security for money in the course of his business as a money- lender, otherwise than in his registered name; and

(d.) shall on reasonable request, and on tender of a reasonable sum for expenses, furnish the borrower with a copy of any document relating to the loan or any security there- for.

(2.) If a money-lender fails to register himself as required by this Ordinance, or carries on business otherwise than in his registered name, or in more than one name, or elsewhere than at his registered address, or fails to comply with any other requirement of this section, he shall be liable on summary conviction to a fine not exceeding one thousand dollars, and in the case of a second or subsequent conviction to imprison- ment, with or without hard labour, for a term not exceeding three months, or to a fine not exceeding one thousand dollars, or to both: Provided that if the offender be a body corporate that body corporate shall be liable on a second or subsequent conviction to a fine not exceeding five thousand dollars.

(3.) A prosecution under sub-section (1) (a) of this section shall not be instituted except with the consent of the Attorney General.

registration.

4.—(1.) The Governor-in-Council may make regula- Regulations tions respecting the registration of money-lenders, whe- as to ther individuals, firms, societies or companies, the form of the register, and the particulars to be entered therein and the fees to be paid on registration and renewal of registration, not exceeding $10 for each registration or renewal, and respecting the inspection of the register and the fees payable therefor.

(2.) The registration shall cease to have effect at the expiration of three years from the date of the registra- tion, but may be renewed from time to time, and if renewed shall have effect for three years from the date of the renewal.

statements and repre-

5. If any money-lender, or any manager, agent, or Penalties clerk of a money-lender, or if any person being a for false director, manager, or other officer of any corporation carrying on the business of a money-lender, by any sentations. false, misleading, or deceptive statement, representation, or promise, or by any dishonest concealment of material facts, fraudulently induces or attempts to induce any person to borrow money or to agree to the terms on which money is or is to be borrowed, he shall be guilty of a misdemeanor, and shall be liable on indictment

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