Page:Moneylenders Act 2008.pdf/30

30 (2) Without prejudice to the generality of subsection (1), the Registrar may by such directions—
 * (a) require any licensee or exempt moneylender to display or exhibit such cautionary statements as the Registrar thinks fit in a conspicuous position at or in every place of business for moneylending;
 * (b) require any licensee or exempt moneylender to provide cautionary statements in writing to borrowers; or
 * (c) set out the manner in which any licensee or exempt moneylender shall conduct the business of moneylending.

(3) Any licensee or exempt moneylender who fails or refuses to comply with any direction issued under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.

(4) For the avoidance of doubt, any written direction issued under subsection (1) shall be deemed not to be subsidiary legislation.

False statements or representations to induce borrowing an offence

27. If any moneylender, any director, partner, agent or employee of the moneylender, or any person who is responsible for the management of the business of moneylending of the moneylender—
 * (a) by any false, misleading or deceptive statement, representation or promise; or
 * (b) 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 an offence and shall be liable on conviction to a fine not exceeding $40,000 or to imprisonment for a term not exceeding 2 years or to both.

Harassing borrower, besetting his residence, etc.

28.—(1) Subject to subsection (3), where an unlicensed moneylender—
 * (a) displays or uses any threatening, abusive or insulting words, behaviour, writing, sign or visible representation; or