Page:Moneylenders Act 2008.pdf/7

Rh Persons presumed to be moneylenders

3. Any person, other than an excluded moneylender, who lends a sum of money in consideration of a larger sum being repaid shall be presumed, until the contrary is proved, to be a moneylender.

Appointment of Registrar, etc.

4. The Minister may appoint any public officer to be the Registrar of Moneylenders and such number of public officers as he thinks fit to be Deputy Registrars of Moneylenders and Assistant Registrars of Moneylenders under this Act. PART II LICENSING OF MONEYLENDERS No moneylending except under licence, etc.

5.—(1) No person shall carry on or hold himself out in any way as carrying on the business of moneylending in Singapore, whether as principal or as agent, unless—
 * (a) he is authorised to do so by a licence;
 * (b) he is an excluded moneylender; or
 * (c) he is an exempt moneylender.

(2) The Minister may prescribe different classes or descriptions of licences for the purposes of this Act.

(3) An application for the issue of a licence shall be—
 * (a) made in such form and manner as may be determined by the Registrar; and
 * (b) accompanied by the payment of a non-refundable application fee of a prescribed amount, which shall be paid in such manner as may be specified by the Registrar.

(4) The Registrar may issue a licence with or without conditions, or he may refuse to issue a licence.

(5) Without prejudice to section 7, the Registrar shall not issue a licence—