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6. Section 5 makes it Illegal for a person, which by the Interpretation clause includes a corporate body and a firm to carry on the business of a money-lender without being the holder of a licence.—It also provides for the grant, duration, renewal and cancellation of licences and raises the annual fee from ten to twenty- five dollars.
7. Section 6 of this Ordinance substantially re-enacts section 3 of Ordinance 16 of 1911 with the exception of sub-section (d) thereof which sub-section (d) appears in a slightly expanded form as sub-section (2) of sec- tion 11 of this Ordinance.
8. Section 7 of this Ordinance is specially drafted so as to make the money-lender responsible for the insertion of full particulars of the contract in the money-lending agreement, and also provides for the delivery of a copy of the agreement to the borrower, and in these respects it is in conformity with the pro- visions of section 6 of the English Money-lenders Act, 1927.-Section 7 also provides for the further protection of the borrower under local conditions that the agreement shall be drawn up, if the borrower does not understand the English language, in any language selected by the borrower, with an English translation attached.
9. Section 8 provides for registration and filing within seven days of correct copies of money-lending agreements.
10. Section 9 provides penalties for offences against sections 5, 6, 7 and 8; with a proviso that no prosecu- tion under section 5 or sub-section (1) (a) of section 6 shall be instituted except with the consent of the Attorney General.
11. Section 10 is a penalty clause for false state- ments and representation made to induce any person to borrow money or to agree to the terms on which money is borrowed, and is a re-enactment of section 5 of Ordinance 16 of 1911.
12. Section 11 of the Ordinance makes it imperative on a money-lender to supply a statement to the borrower in regard to the loan and to supply him with a copy of any documents relating to the loan under penalty of a daily fine of $50 for each day during which the defaults to supply such information con- tinues. This section is based to a certain extent upon section 8 of the English Act of 1927.
13. Section 12 of the Ordinance prohibits the assign- ment of any agreement so as to prevent a money- lender from passing on an unconscionable agreement to an innocent third party.
14. Section 13 prohibits the money-lender, under a penalty from advertising his business.
15. Section 14 prohibits an action in tort being brought by a money-lender in connection with any loan so as to prevent him, if his contract is declared void from suing in tort for damages.
16. Section 15 (1) is intended to prevent a money- lender from using legal proceedings as a means of squeezing money out of the borrower.-Sub-section (2) enacts that except by special order of the Court a money-lender shall not recover any legal costs except actual disbursements.
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