On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 12/02/2010.
4. Section 14 of the Moneylenders Act 2008 is amended —
(a)
by deleting subsection (1) and substituting the following subsections:
“(1) Subject to subsection (1A), any person who contravenes, or who assists in the contravention of, section 5(1) shall be guilty of an offence and —
(a)
in the case where the person is a body corporate, shall on conviction be punished with a fine of not less than $50,000 and not more than $500,000; or
(b)
in any other case —
(i)
shall on conviction be punished with a fine of not less than $30,000 and not more than $300,000 and with imprisonment for a term not exceeding 4 years; and
(ii)
in the case of a second or subsequent offence, shall on conviction be punished with a fine of not less than $30,000 and not more than $300,000 and with imprisonment for a term not exceeding 7 years.
(1A) Subject to section 231 of the Criminal Procedure Code (Cap. 68) —
(a)
a person who is convicted for the first time of an offence under subsection (1) shall also be liable to be punished with caning with not more than 6 strokes; or
(b)
a person who is convicted of a second or subsequent offence under subsection (1) shall also be liable to be punished with caning with not more than 12 strokes.”; and
(b)
by inserting, immediately after subsection (3), the following subsections:
“(3A) Without prejudice to the generality of subsection (1), a person assists in a contravention of subsection (1) if —
(a)
he collects or demands payment of a loan on behalf of a person whom he knows or has reasonable grounds to believe is carrying on a business in contravention of section 5(1);
(b)
he receives, possesses, conceals or disposes of any funds or other property, or engages in a banking transaction relating to any funds, on behalf of any person knowing or having reasonable grounds to believe that —
(i)
the person is carrying on a business in contravention of section 5(1); and
(ii)
either the funds are (or are intended to be) disbursed as a loan by that person, or the funds or property is repayment of a loan made by the person;
(c)
being the owner or person having management or control of any premises, he allows the premises to be used to carry on a business knowing or having reasonable grounds to believe that the carrying on of such business contravenes section 5(1);
(d)
he lends or provides funds, or lends, sells or provides any pre-paid subscriber identification module (SIM) card or other property to a person, knowing or having reasonable grounds to believe that the funds or property will be used for the carrying on of a business in contravention of section 5(1);
(e)
he keeps the records and accounts of a business knowing or having reasonable grounds to believe that the carrying on of such business contravenes section 5(1); or
(f)
he promotes or advertises a business knowing or having reasonable grounds to believe that the carrying on of such business contravenes section 5(1).
(3B) In subsection (3A), “funds” and “property” have the meanings given to those words in section 15A.”.