Page:Moneylenders Act 2008.pdf/18

18 :: also be punished with imprisonment for a term not exceeding 5 years.

(2) Where any contract for a loan has been granted by an unlicensed moneylender, or any guarantee or security has been given for such a loan—
 * (a) the contract for the loan, and the guarantee or security, as the case may be, shall be unenforceable; and
 * (b) any money paid by or on behalf of the unlicensed moneylender under the contract for the loan shall not be recoverable in any court of law.

(3) Subsections (1) and (2) shall not apply to a moneylender who—
 * (a) is not ordinarily resident in Singapore;
 * (b) is not a licensee; and
 * (c) carries on the business of moneylending in Singapore through an agent who is a licensee or an exempt moneylender.

(4) For the purposes of subsection (1), where the bank account or automated teller machine card of any person, or a telecommunication service subscribed in the name of or purchased by any person, is proved to the satisfaction of the court to have been used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender, that person shall be presumed, until the contrary is proved, to have assisted in the contravention of section 5(1).

(5) In this section, unless the context otherwise requires, “telecommunication service” has the same meaning as in the Telecommunications Act (Cap. 323).

Other offences under this Part

15.—(1) Any person who, in connection with an application for the issue or renewal of a licence or for the approval of any place of business for moneylending—
 * (a) knowingly or recklessly furnishes any information or statement to the Registrar which is false or misleading in a material particular;
 * (b) wilfully omits to state any matter without which the application is misleading in a material particular; or