No. S 72
PART I
LICENSING OF MONEYLENDERS
Citation and commencement
1.These Rules may be cited as the Moneylenders Rules 2009 and shall come into operation on 1st March 2009.
Definitions
[Deleted by S 156/2024 wef 01/03/2024]
(a) | a company incorporated under the Companies Act 1967 or any corresponding previous legislation, and carrying on business for, at least one year before the grant of the loan; [S 899/2022 wef 31/12/2021] |
(b) | a limited liability partnership registered under the Limited Liability Partnerships Act 2005, and carrying on business for, at least one year before the grant of the loan; [S 899/2022 wef 31/12/2021] |
(c) | a person registered under the Business Names Registration Act 2014 or any corresponding previous legislation, and carrying on business under the business name in respect of which the person is registered for, at least one year before the grant of the loan; [S 899/2022 wef 31/12/2021] |
(a) | who has submitted a written request, in such form and manner as the Registrar may specify, to the designated credit bureau to be excluded from obtaining any unsecured loan (except a debt consolidation loan) from a licensee after the date of the submission of the request; and [S 142/2019 wef 29/03/2019] |
(b) | whose request has not been withdrawn in such form and manner as the Registrar may specify; |
“revolving credit loan” means a loan on revolving credit that may be drawn down subject to a limit approved by the moneylender who granted the loan and which may be repaid at any time and from time to time in any amount.
(a) | a reference to a loan granted to a person includes a reference to a loan granted to that person and one or more other persons, whether jointly or otherwise; | ||||||||
(b) | a reference to an application for a loan made by a person includes a reference to an application made by that person and one or more other persons; and | ||||||||
(c) | a reference to a person’s share of the amount of a loan is a reference to —
|
(a) | where the loan is a revolving credit loan, except in Part IIIA —
| ||||
(b) | where the loan is a revolving credit loan in Part IIIA —
| ||||
(c) | where the loan (not being a revolving credit loan) is —
|
Forms
[S 755/2018 wef 30/11/2018]
Particulars to be provided for applications
[S 899/2022 wef 31/12/2021]
(a) | particulars of the bank account of the applicant; |
(b) | particulars of any director or substantial shareholder of the applicant; [S 755/2018 wef 30/11/2018] [S 142/2019 wef 29/03/2019] |
(ba) | particulars of any person who has taken part, is taking part or will be taking part (whether directly or indirectly), in the management of the applicant’s business of moneylending; and [S 755/2018 wef 30/11/2018] [S 142/2019 wef 29/03/2019] |
(bb) | particulars of any assistant employed or engaged, or who will be employed or engaged, by the applicant. [S 755/2018 wef 30/11/2018] [S 142/2019 wef 29/03/2019] |
(c) | [Deleted by S 142/2019 wef 29/03/2019] |
[S 475/2011 wef 22/08/2011]
[S 755/2018 wef 30/11/2018]
[S 142/2019 wef 29/03/2019]
[S 156/2024 wef 01/03/2024]
[S 475/2011 wef 22/08/2011]
[S 899/2022 wef 31/12/2021]
[S 142/2019 wef 29/03/2019]
Security deposit
[S 755/2018 wef 30/11/2018]
[S 899/2022 wef 31/12/2021]
[S 755/2018 wef 30/11/2018]
[S 899/2022 wef 31/12/2021]
[S 755/2018 wef 30/11/2018]
(a) | ceases to conduct a business of moneylending at a place; and |
(b) | applies for approval under section 11 of the Act to carry on such business at another place, [S 899/2022 wef 31/12/2021] |
the security deposit for the first-mentioned place may be transferred and placed with the Accountant-General as the security deposit for the second-mentioned place, unless the Registrar has forfeited the deposit or has given notice under section 12(2) of the Act of his intention to forfeit the deposit.
[S 755/2018 wef 30/11/2018]
[S 899/2022 wef 31/12/2021]
Minimum paid-up capital for licensees
[S 142/2019 wef 29/03/2019]
[S 899/2022 wef 31/12/2021]
Form of licence
4.A licence issued under section5 of the Act or renewed under section6 of the Act shall be in such form as the Registrar may determine.
Fees
[S 899/2022 wef 31/12/2021]
[S 755/2018 wef 30/11/2018]
[S 899/2022 wef 31/12/2021]
[S 755/2018 wef 30/11/2018]
[S 899/2022 wef 31/12/2021]
$125 × (12 – A), | |
where A | is the number of months remaining of the period of the licence from the date referred to in paragraph(3) (a period of less than one month being treated as a full month). |
[S 304/2010 wef 01/07/2010]
[S 755/2018 wef 30/11/2018]
[S 156/2024 wef 01/03/2024]