CHAPTER 273

THE MONEYLENDERS ACT.

Arrangement of Sections.

Section

Interpretation.

Licences to be taken out by moneylenders.

Certificate required for grant of moneylenders licence.

Suspension and forfeiture of moneylenders certificates.

Names to be stated on documents issued by moneylenders.

Form of moneylenders contracts.

Prohibition of compound interest and provision as to defaults.

Obligation to supply information to borrower.

Moneylenders to give receipts and keep records.

Powers of court.

Reopening transactions of moneylenders.

Harsh and unconscionable interest rates.

Restrictions on moneylending advertisements.

Penalties for false statements and representations.

Notice and information on assignment of moneylenders debts.

Application in respect of assignees.

Provisions as to bankruptcy proceedings for moneylenders loans.

Prohibition of charge for expenses on loans.

Limitation of time for proceedings.

Penalty for taking promissory note in which amount left blank or not truly stated.

Saving.

Rules.

Schedule

Schedule Calculation of interest where the interest

charged on a loan is not expressed in terms of a rate.

CHAPTER 273

THE MONEYLENDERS ACT.

Commencement: 1 January, 1952.

An Act to make provision for the regulation of moneylending.

1. Interpretation.

(1) In this Act, unless the context otherwise requires—