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Contents

Long Title

Part I PRELIMINARY

Part II LICENSING OF MONEYLENDERS

Part IIA FREEZING OF PROCEEDS OF UNLICENSED MONEYLENDING

Part III REGULATION OF BUSINESS OF MONEYLENDING, ENFORCEMENT AND PROCEEDINGS

Part IV MISCELLANEOUS

Legislative History

 
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On 23/07/2014, you requested the version in force on 23/07/2014 incorporating all amendments published on or before 23/07/2014. The closest version currently available is that of 02/10/2012.
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PART III
REGULATION OF BUSINESS OF MONEYLENDING, ENFORCEMENT AND PROCEEDINGS
Regulation of advertising and marketing, etc.
16.
—(1)  No licensee shall knowingly or recklessly issue or publish, or cause to be issued or published, any advertising or marketing material in any form, or any business letter, circular or other document, which contains any information which is false or misleading in a material particular.
(2)  For the purpose of subsection (1), any advertising or marketing material or any business letter, circular or other document shall be presumed, unless the contrary is proved, to contain information which is false or misleading in a material particular if such material or document —
(a)
does not state the business name of the licensee;
(b)
states the business name of the licensee in an inconspicuous manner;
(c)
states that the licensee offers loans at a specified percentage of interest without stating the rate of the interest, and the actual rate of interest charged is not per annum;
(d)
states that the licensee offers loans at a specified rate of interest but the actual rate of interest charged is higher; or
(e)
states that the licensee offers loans at a specified percentage rate of interest without stating that conditions apply, or without stating the conditions which apply, when the rate of interest offered is subject to conditions.
(3)  Without prejudice to the generality of the power of the Registrar to issue directions under section 26(1), the Registrar may issue directions to any licensee with respect to the issue, publication or contents of advertising or marketing materials or the conduct of advertising or marketing activities.
(4)  Any licensee who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.
Prohibition of unsolicited loans
17.
—(1)  No licensee shall —
(a)
grant a loan to any person;
(b)
grant approval to any person to obtain a loan from the licensee; or
(c)
send or deliver, directly or indirectly, any article or document to any person on an undertaking by the licensee that such article or document, when used or produced in a specified manner, enables a loan to be obtained from the licensee,
without the person having first applied to the licensee in writing for the loan.
(2)  Any licensee who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.
Signage at place of business
18.
—(1)  Every licensee shall affix, in a conspicuous position at or in each of his places of business, a sign bearing his business name and the words “Licensed Moneylender” in the English language such as to be visible to any person immediately outside the place of business.
(2)  Any licensee who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.
Licensees to inform borrowers of terms of loan
19.
—(1)  Every licensee shall, before granting any loan to a borrower, inform the borrower in writing as to such matters relating to the terms and conditions of the loan as may be prescribed.
(2)  The licensee shall cause the written information provided to the borrower under subsection (1) to be signed by the borrower or his agent together with an acknowledgment in writing by the borrower or his agent, as the case may be, that he has been informed by the licensee of the terms and conditions of the loan.
(3)  Where any loan has been granted in contravention of subsection (1) or (2), the licensee shall not be entitled to enforce —
(a)
the payment of all sums of interest, late interest and permitted fees payable under the contract for the loan, whether by the borrower or any surety; or
(b)
any guarantee or security given for the loan to recover any such sum.
(4)  For the purposes of subsection (3), if any amount of interest, late interest or permitted fees has been paid, it shall be recoverable as a debt due to the borrower or surety, as the case may be, and if not recovered, shall be set-off against the outstanding amount of the loan.
(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 $20,000 or to imprisonment for a term not exceeding 6 months or to both.
Note of moneylender’s contract to be given to borrower
20.
—(1)  No contract for a loan granted by a licensee, and no guarantee or security given by or on behalf of a borrower for the loan, shall be enforceable and no money paid by or on behalf of the licensee pursuant to the contract for the loan shall be recoverable in any court of law unless —
(a)
a note of the contract for the loan, in the prescribed form, is signed by the parties to the contract for the loan or their respective agents;
(b)
where any party to the contract for the loan (including a surety) or his agent does not understand the English language, the licensee or the licensee’s agent explains the terms of the note of the contract for the loan in a language that he understands before he signs the note; and
(c)
a copy of the note of the contract for the loan, duly signed by the licensee or his agent, is delivered to the borrower and the surety (if any) or their respective agents before or at the time the loan is paid to the borrower or any other person on the direction of the borrower.
(2)  Any licensee who makes or causes to be made any note of a contract for a loan in which the principal or rate of interest is, to the knowledge of the licensee, not stated or not truly stated shall be guilty of an offence and shall be liable on conviction —
(a)
to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both; and
(b)
in the case of a second or subsequent offence, to a fine not exceeding $40,000 or to imprisonment for a term not exceeding 12 months or to both.
(3)  This section shall not apply to any loan on revolving credit that may be drawn down and repaid by the borrower or his agent at any time and from time to time subject to a limit approved by the licensee.
Provision of statements of account, loan documents and receipts
21.
—(1)  Every licensee shall, at least once every half year ending on 30th June or 31st December and not later than 21 days after that date, supply to every borrower, so long as a contract for a loan granted by the licensee to the borrower is subsisting, a statement of account in the English language containing such particulars as may be prescribed.
(2)  The statement of account under subsection (1) shall be —
(a)
supplied to the borrower without charge; and
(b)
sent by pre-paid post to such address in Singapore, or by electronic communication to such email address, as specified by the borrower.
(3)  A licensee shall, on an application made in writing by a borrower or surety, or a former borrower or surety, and on the payment of a processing fee of $10 or such other amount as may be prescribed, supply to the applicant or any other person on the direction of the applicant not later than 21 days after the date the application is made —
(a)
a statement of account in relation to the loan to which the applicant is or was a borrower or surety, containing the particulars prescribed under subsection (1), for any period of account, not exceeding the duration of the loan, as may be specified by the applicant which shall not in any case be earlier than 5 years before the date the statement is prepared; or
(b)
a copy of any document relating to a contract for a loan granted, or any guarantee or security given for the loan, in relation to which the applicant is or was a borrower or surety.
(4)  A licensee who receives any cash payment from or on behalf of a borrower under a contract for a loan shall immediately issue to the payer a receipt, which shall set out in the English language —
(a)
the business name, the address of the place of business from which the loan was taken or the principal place of business, and the telephone number, of the licensee; and
(b)
the amount paid and the date of the payment.
(5)  A licensee who issues a receipt in accordance with subsection (4) shall —
(a)
obtain, on the licensee’s copy of the receipt, a signature of the payer acknowledging that he has received the receipt; and
(b)
where the payer is other than the borrower —
(i)
record, on the licensee’s copy of the receipt, such particulars of the payer as may be prescribed; and
(ii)
attach such documents as may be prescribed to the licensee’s copy of the receipt.
(6)  The Minister may prescribe such other information to be provided, in such form or manner and within such time as may be prescribed, by a licensee to a borrower in relation to any payment made by or on behalf of the borrower to the licensee.
(7)  Any licensee who, without reasonable excuse, contravenes subsection (1), (2), (3), (4) or (5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.
(8)  Where a licensee has contravened subsection (1), (2), (3), (4) or (5), or any requirement relating to the provision of information prescribed under subsection (6), the licensee shall not be entitled to enforce —
(a)
the payment of all sums of interest, late interest and permitted fees payable under the contract for the loan, whether by the borrower or any surety; or
(b)
any guarantee or security given for the loan to recover any such sum.
(9)  For the purposes of subsection (8), if any amount of interest, late interest or permitted fees has been paid, it shall be recoverable as a debt due to the borrower or surety, as the case may be, and if not recovered, shall be set-off against the outstanding amount of the loan.
Charges other than permitted fees unenforceable
22.
—(1)  The Minister may prescribe the types or amounts of costs, charges and expenses that a licensee may impose in respect of every loan granted by the licensee, including the fees or charges for or on account of legal costs.
(2)  Where, under any contract for a loan between a licensee and a borrower, the borrower is required to pay to the licensee any sum (not being a sum for or on account of stamp duties or fees payable by or under this Act or any other written law) on account of costs, charges or expenses other than or in excess of the permitted fees, such sum —
(a)
shall not be recoverable from the borrower or any surety;
(b)
if so paid, shall be recoverable as a debt due to the borrower or surety, as the case may be; and
(c)
if not recovered, shall be set-off against the outstanding amount of the loan, and all sums of interest, late interest and permitted fees payable under the contract for the loan.
Re-opening of certain transactions
23.
—(1)  When proceedings are brought in any court by a licensee for the recovery of a loan or the enforcement of a contract for a loan or any guarantee or security given for a loan, and the court is satisfied that the interest or late interest charged in respect of the loan is excessive and that the transaction is unconscionable or substantially unfair, the court shall re-open the transaction and take an account between the licensee and the person sued.
(2)  In taking an account under subsection (1), the court may re-open any account already taken between the parties to the proceedings and relieve the person sued from payment of any sum in excess of the sum adjudged by the court to be fairly due in respect of such principal, interest and late interest as the court, having regard to the risk and all the facts and circumstances of the case (including facts and circumstances arising or coming to the knowledge of any party after the date of the transaction), may determine to be reasonable.
(3)  In relieving the person sued under subsection (2), the court may, without prejudice to its power to grant any further or other equitable relief —
(a)
order the licensee to repay any excess paid to him;
(b)
set aside either wholly or in part, or revise or alter, any guarantee or security given or the contract for the loan; and
(c)
if the licensee has disposed of the security, order the licensee to indemnify the borrower or other person sued for the loss of the security.
(4)  Any court shall have and may exercise the powers referred to in subsections (1), (2) and (3) in relation to proceedings for relief brought by a borrower, a surety or other person liable to repay a loan to a licensee, notwithstanding —
(a)
any provision or agreement to the contrary;
(b)
that the time for repayment of the loan or any instalment thereof may not have arrived; and
(c)
that the licensee’s right of action for the recovery of the loan is barred.
(5)  Where a licensee has filed, in the bankruptcy of a borrower or surety, a proof of debt arising from a loan granted by him, the Official Assignee may exercise such powers as may be exercised by a court under this section when assessing whether the debt or liability is proved and its value.
(6)  Where in any proceedings in court referred to in subsection (1) or where proof of debt has been filed as referred to in subsection (5), it is found that the interest or late interest charged on any loan exceeds such maximum rate of interest or late interest as may be prescribed for the loan, the court or the Official Assignee, as the case may be, shall presume for the purposes of this section, unless the contrary is proved, that the interest or late interest charged in respect of the loan is excessive and that the transaction is unconscionable or substantially unfair.
(7)  Subsection (6) shall be without prejudice to the powers of a court under this section where the court is satisfied that the interest or late interest charged under the circumstances, although not exceeding such maximum rate of interest or late interest as may be prescribed for the loan, is excessive or that the transaction is unconscionable or substantially unfair.
(8)  For the purposes of subsections (6) and (7) —
(a)
the court shall, when determining whether the interest or late interest charged in respect of any loan exceeds such maximum rate of interest or late interest as may be prescribed for the loan, take no account of the permitted fees as agreed between the licensee and the borrower; and
(b)
the Minister may prescribe different maximum rates of interest to apply to different classes or descriptions of borrowers or loans.
(9)  Nothing in this section shall be construed as derogating from —
(a)
the jurisdiction or powers of any court; or
(b)
the powers of the Official Assignee.
Accounts to be kept and submissions to Registrar
24.
—(1)  Every licensee shall keep or cause to be kept, for a period of not less than 5 years from the prescribed time —
(a)
such accounts relating to his business of moneylending as are prescribed so as to exhibit and explain the financial position in his business, including entries from day to day in sufficient detail of all sums of money received and paid;
(b)
such notes of the contracts for the loans in which he is or has been concerned; and
(c)
such other documents as may be prescribed.
(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
(b)
in an account or explanation to the Registrar under subsection (4),
which is false or misleading in a material particular 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.
(8)  Where a licensee submits a statement after the time for submission prescribed under subsection (3), the Registrar may impose a late submission fee not exceeding $100 for every day or part thereof that the submission is late, subject to a maximum of $2,000.
Power to inspect, and require information or documents
25.
—(1)  For the purpose of determining whether this Act has been complied with, the Registrar or an officer duly authorised by him (referred to in this section as an authorised officer) may at any time —
(a)
inspect any premises where a moneylender is or is believed to be carrying on business and the books, records and other documents kept there;
(b)
require the moneylender or any other person to furnish any information, book, record or other document either forthwith or at such other time and place and in such manner as the Registrar or the authorised officer may require;
[Act 8 of 2012 wef 02/10/2012]
(c)
make or cause to be made a copy of any book, record or other document inspected or produced;
(d)
take photographs or video recording of the premises inspected or any part thereof; and
(e)
seize and remove from the premises any book, record or other document, or any machine or equipment containing any book, record or other document.
(1A)  The Registrar or an authorised officer may be assisted by any other person or persons when exercising the powers under subsection (1)(a), (b), (c) or (d).
[Act 8 of 2012 wef 02/10/2012]
(2)  Any person who, without reasonable excuse, fails or refuses —
(a)
to grant to the Registrar or an authorised officer access to the premises or any part thereof, or to any book, record or other document, under subsection (1)(a);
(b)
to furnish the Registrar or an authorised officer with any information, book, record or other document at such time and place or in such manner as required under subsection (1)(b);
[Act 8 of 2012 wef 02/10/2012]
(c)
to permit the Registrar or an authorised officer to make or cause to be made a copy of any book, record or other document under subsection (1)(c);
(d)
to permit the Registrar or an authorised officer to take any photograph or video recording of the premises inspected or any part thereof under subsection (1)(d); or
(e)
to permit the Registrar or an authorised officer to seize or remove from the premises any book, record or other document, or any machine or equipment containing any book, record or other document under subsection (1)(e),
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.
(3)  Any person who obstructs or prevents the Registrar or an authorised officer from exercising his powers under subsection (1) in any manner other than as described in subsection (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.
(4)  Any person who, knowingly or recklessly —
(a)
gives to the Registrar or an authorised officer any information under subsection (1) that is false or misleading in a material particular; or
(b)
produces to the Registrar or an authorised officer, or grants him access to, any book, record or other document under subsection (1) which contains a statement or omits any matter which renders it false or misleading in a material particular,
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.
Power to obtain information from Comptroller of Income Tax
25A.
—(1)  In the course of any investigation or proceedings into or relating to an offence by any person under section 14 or 28, whenever committed, or a conspiracy to commit, or an attempt to commit, or an abetment of any such offence, the Public Prosecutor may, notwithstanding anything in any other written law to the contrary, by written notice require the Comptroller —
(a)
to furnish, as specified in the notice, all information available to the Comptroller relating to the affairs of that person or of the spouse, son or daughter of that person; and
(b)
to produce or furnish, as specified in the notice, any document or a certified copy of any document relating to that person, spouse, son or daughter which is in the possession or under the control of the Comptroller.
[5/2010]
(2)  The Comptroller to whom a notice is sent by the Public Prosecutor under subsection (1) shall, notwithstanding the provisions of any written law or any oath of secrecy to the contrary, be legally bound to comply with the terms of that notice within such time as may be specified therein.
[5/2010]
(3)  In this section, “Comptroller” means the Comptroller of Income Tax, or any Deputy Comptroller or Assistant Comptroller of Income Tax appointed under section 3(1) of the Income Tax Act (Cap. 134).
[5/2010]
General power to issue directions
26.
—(1)  The Registrar may issue directions, either of a general or specific nature, to any licensee or exempt moneylender for or in respect of every purpose which the Registrar considers necessary for carrying out the provisions of this Act.
(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
(b)
commits any act likely to cause alarm or annoyance to his borrower or surety, any member of the family of the borrower or surety, or any other person,
in connection with the loan to the borrower, whether or not the unlicensed moneylender does the act personally or by any person acting on his behalf, the unlicensed moneylender shall be guilty of an offence and —
(i)
in the case where the unlicensed moneylender is a body corporate, shall be liable on conviction to a fine of not less than $10,000 and not more than $100,000; or
(ii)
in any other case —
(A)
shall on conviction be punished with imprisonment for a term not exceeding 5 years and shall also be liable to a fine of not less than $5,000 and not more than $50,000; and
(B)
in the case of a second or subsequent offence, shall on conviction be punished with imprisonment for a term of not less than 2 years and not more than 9 years and shall also be liable to a fine of not less than $6,000 and not more than $60,000.
[5/2010]
(2)  Subject to subsection (3), any person who, acting on behalf of an unlicensed moneylender, commits or attempts to commit any of the acts specified in subsection (1) shall be guilty of an offence and —
(a)
shall on conviction be punished with imprisonment for a term not exceeding 5 years and shall also be liable to a fine of not less than $5,000 and not more than $50,000; and
(b)
in the case of a second or subsequent offence, shall on conviction be punished with imprisonment for a term of not less than 2 years and not more than 9 years and shall also be liable to a fine of not less than $6,000 and not more than $60,000.
[5/2010]
(3)  Subject to sections 325(1) and 330(1) of the Criminal Procedure Code 2010 —
(a)
except as provided in paragraph (b), a person who is convicted for the first time of an offence under subsection (1) or (2) shall also be liable to be punished with caning with not more than 6 strokes;
(b)
a person who is convicted for the first time of an offence under subsection (1) or (2) shall also be punished with caning —
(i)
with not less than 3 and not more than 6 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, damage was caused to any property;
(ii)
with not less than 5 and not more than 8 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, hurt was caused to another person; and
(iii)
with not less than 6 and not more than 12 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, hurt was caused to another person and damage was caused to any property;
(c)
except as provided in paragraph (d), a person who is convicted of a second or subsequent offence under subsection (1) or (2) shall also be liable to be punished with caning with not more than 12 strokes; or
(d)
a person who is convicted of a second or subsequent offence under subsection (1) or (2) shall also be punished with caning —
(i)
with not less than 5 and not more than 10 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, damage was caused to any property;
(ii)
with not less than 6 and not more than 12 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, hurt was caused to another person; and
(iii)
with not less than 9 and not more than 18 strokes if it is proved to the satisfaction of the court that, in the course of committing the offence, hurt was caused to another person and damage was caused to any property.
[5/2010]
[15/2010 wef 02/01/2011]
(3A)  For the purposes of paragraph (a) of subsection (1), a person who —
(a)
uses any threatening, abusive or insulting words in any telephone call made by him; or
(b)
by any means sends any thing which contains any threatening, abusive or insulting words, writing, sign or visible representation,
whether from a place in Singapore or outside Singapore, to any person or place in Singapore shall be taken to have committed an act referred to in that paragraph.
[5/2010]
(3B)  For the purposes of paragraph (b) of subsection (1), a person who makes any telephone call, or by any means sends any article, message, word, sign, image or representation, whether from a place in Singapore or outside Singapore, to any person or place in Singapore, which is likely to cause alarm or annoyance to a person referred to in that paragraph, shall be taken to have committed an act referred to in that paragraph.
[5/2010]
(4)  For the purposes of subsection (2), any person who does any of the acts specified in subsection (1) in connection with a demand for the repayment of a loan to an unlicensed moneylender shall be presumed, until the contrary is proved, to act on behalf of such unlicensed moneylender.
(5)  For the purposes of subsection (3), a person is deemed to have caused damage to any property if he does any of the following acts:
(a)
defacing the property by means of any pen, marker or any other delible or indelible substance;
(b)
defacing the property by affixing, posting up or displaying on such property any poster, placard, bill, notice, paper or other document;
(c)
defacing the property through the use of paint, coffee, soya sauce or any other delible or indelible substance;
(d)
destroying or damaging the property through the use of fire or any other substance;
(e)
doing any other act of mischief which causes a change in any property or which diminishes its value or utility.
Abetment of section 28
28A.
—(1)  For the purposes of Chapter V of the Penal Code (Cap. 224), a person shall be taken to have abetted the commission of an offence under section 28 if —
(a)
he gives instruction to another person to carry out any act specified in section 28(1) in connection with a demand for the repayment of a loan to an unlicensed moneylender;
(b)
he provides or arranges transport for another person for the purpose of carrying out any such act knowing or having reasonable cause to believe that the act is in connection with such a demand;
(c)
he acts as or arranges a lookout for a person carrying out any such act knowing or having reasonable cause to believe that the act is in connection with such a demand; or
(d)
he provides or arranges transport to a person for the purpose of his acting as a lookout for a person carrying out any such act, and he knows and has reasonable cause to believe that the act is in connection with such a demand.
[5/2010]
(2)  For the purposes of Chapter V of the Penal Code, where —
(a)
a person gives instruction to another person to carry out any act specified in section 28(1) in connection with a demand for the repayment of a loan to an unlicensed moneylender; and
(b)
a person, knowing or having reasonable cause to believe that the act is in connection with a demand, verifies that the act has been carried out in accordance with such instruction,
the person referred to in paragraph (b) shall be taken to have abetted the commission of an offence under section 28(1) or an offence under subsection (1)(a) (as the case may be) by the person giving the instruction.
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(3)  For the avoidance of doubt, this section is without prejudice to the generality of the term “abetment” under the Penal Code.
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Offences involving minors below 16
28B.
—(1)  Subject to subsection (2), any person of or above the age of 21 years who causes or procures any person below the age of 16 years to commit an offence under section 14 or 28 shall be guilty of an offence and —
(a)
if the offence under section 14 is thereby committed, shall on conviction be punished with imprisonment for a term not exceeding 7 years and shall also be liable to a fine of not less than $30,000 and not more than $300,000;
(b)
if the offence under section 28 is thereby committed, shall on conviction be punished with imprisonment for a term of not less than 2 years and not more than 9 years and shall also be liable to a fine of not less than $6,000 and not more than $60,000; or
(c)
in any other case, 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.
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(2)  Subject to sections 325(1) and 330(1) of the Criminal Procedure Code 2010 —
(a)
a person who is convicted of an offence under subsection (1) for causing or procuring any person below the age of 16 years to commit an offence under section 14 shall, if the offence under section 14 is thereby committed, also be liable to be punished with caning with not more than 12 strokes; and
(b)
a person who is convicted of an offence under subsection (1) for causing or procuring any person below the age of 16 years to commit an offence under section 28 shall, if the offence under section 28 is thereby committed, also be liable to be punished with caning with not more than 12 strokes.
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[15/2010 wef 02/01/2011]
Offence of providing false contact information
28C.
—(1)  A person shall be guilty of an offence if —
(a)
in connection with a loan by an unlicensed moneylender to him or any other person, he gives any contact information which he knows or believes to be false to the unlicensed moneylender or a person acting on the moneylender’s behalf, having reasonable cause to believe that the moneylender or a person acting on his behalf will use the information for the purpose of committing an offence under section 28(1) or (2) against any other person; and
(b)
the unlicensed moneylender or a person acting on his behalf uses the contact information for the purpose of committing an offence under section 28(1) or (2) against any other person.
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(2)  Any person who is guilty of an offence under subsection (1) shall be liable on conviction to imprisonment for a term not exceeding 12 months.
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(3)  In subsection (1), “contact information” means a residential address, business address, telephone number, facsimile number or any other information given to enable an unlicensed moneylender to contact a borrower.
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Special provisions relating to non-resident principal
29.
—(1)  When any fine is imposed on an agent who is or has been licensed to carry on a business of moneylending in Singapore on behalf of a principal not resident in Singapore in respect of an offence under this Act committed by the agent in the course of carrying on the business, the fine shall, unless the court imposing the fine otherwise directs, be recoverable out of the property belonging to the principal or the agent, or to both, and situated within Singapore.
(2)  Any property of the principal referred to in subsection (1) may be taken in execution and sold under any warrant issued against the agent for the levy of the amount of the fine.
(3)  When it is made to appear to any court by any person entitled to make an application under section 23 that any transaction entered into with a moneylender not resident in Singapore prima facie ought to be re-opened, the court may —
(a)
issue an order of attachment attaching any property of the moneylender situated within Singapore until such time as the moneylender submits to the jurisdiction of the court and gives security to the satisfaction of the court that any order made against him for repayment of any sum or for an indemnity will be duly satisfied; and
(b)
authorise the service out of the jurisdiction of any summons or other process applying for the re-opening of the transaction under section 23.
Powers of police officer
30.  Any police officer not below the rank of sergeant who is authorised in writing by the Registrar, or by a police officer not below the rank of Assistant Superintendent of Police, may at all times enter the premises of any licensee, or any person who is suspected of carrying on the business of moneylending, to inspect or seize any book, record or other document relating to any moneylending transaction without a warrant being issued by a Magistrate for that purpose.
Public Prosecutor’s power to order inspection of customer information
30A.
—(1)  The Public Prosecutor may, if he considers that any evidence of the commission of an offence under section 14 or 28, whenever committed, or a conspiracy to commit, an attempt to commit, or an abetment of such an offence, by a person is likely to be found in any document containing customer information relating to that person, to the spouse, son or daughter of that person, or to a person reasonably believed by the Public Prosecutor to be a trustee or an agent for that person, by order authorise any police officer of or above the rank of assistant superintendent so named to inspect any document of a bank specified in the order.
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(2)  The police officer so authorised may, at all reasonable times, enter the bank specified in the order and inspect the documents kept therein and may take copies of any relevant entry in any such document.
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(3)  The Public Prosecutor may delegate his power under this section to a Deputy Public Prosecutor or the Commissioner of Police, except the power of delegation conferred by this subsection.
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(4)  In this section, “customer information” has the meaning given to that expression in section 40A of the Banking Act (Cap. 19).
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