Page:Moneylenders Act 2008.pdf/27

Rh (2) Notwithstanding subsection (1), a licensee shall keep any accounts, note of a contract for a loan or other document referred to in that subsection, which has been specified or described by the Registrar in relation to a specific transaction or borrower or as belonging to a class of documents, for such longer time as may be required in connection with an investigation into an offence under this Act.

(3) Every licensee shall submit to the Registrar the following statements, in such form and manner as the Registrar may require, not later than 14 days after the end of each quarter of each year commencing from the first day of January, April, July or October of the year:
 * (a) a statement containing every moneylending transaction entered into by the licensee during that quarter; and
 * (b) a statement showing his cash and loan position for that quarter.

(4) Every licensee shall, when so required by the Registrar, account for or explain any item or particulars appearing in any statement submitted to the Registrar under subsection (3).

(5) Any licensee who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 12 months or to both.

(6) Any person who—
 * (a) fails to submit to the Registrar any statement under subsection (3); or
 * (b) fails to comply with any requisition made by the Registrar under subsection (4),

shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.

(7) Any licensee who knowingly or recklessly furnishes to the Registrar any information—
 * (a) in a statement under subsection (3); or