Parliament of Singapore

“ The Registrar shall not approve any place of business for moneylending—
(a) unless the applicant is a licensee or his application for a licence is approved; (b) where any information or statement furnished by the applicant that is material to his application for approval under this section is incomplete, false or misleading; (c) where the applicant, being a licensee, does not place with the Accountant-General as security for the proper conduct of his business of moneylending in Singapore, in such form as the Registrar may determine, a deposit of $20,000 for each additional place of business ”

“ Every licensee shall obtain the approval of the Registrar—
(a) before changing his business name; (b) before the admission of any person who will be responsible for the management of the licensee’s business of moneylending; (c) before any person becomes a director or partner of the licensee; or (d) as soon as practicable after— (i) any person becomes a substantial shareholder of the licensee; or (ii) any substantial shareholder of the licensee increases or reduces his substantial shareholding in the licensee. ”

“ Where a licence is issued to a firm, every partner of the firm actively conducting the business of moneylending of that firm in Singapore shall be subject to this Act as if he holds the licence.
Renewal of licences
6.— (1) An application for the renewal of a licence shall be made not later than one month before the expiry of the licence, in such form and manner as may be determined by the Registrar.
(2) For the purpose of subsection (1) , every licensee must notify the Registrar at least one month before the expiry of his licence if he does not wish to renew his licence. ”

“ Where any person—
(a) is granted an exemption under the repealed Moneylenders Act which subsists immediately before the date of commencement of this Act; and (b) qualifies to be an excluded moneylender in relation to the activities or services for which the exemption is granted, the Registrar may, in his discretion, refund such amount of the fees paid by the person in respect of such exemption as is proportionate to the period (being a period of not less than 6 months) for which, but for such person becoming an excluded moneylender, the exemption would continue to subsist. ”

“ Part II of the Second Schedule to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap. 65A) is amended—
(a) by deleting the words “Moneylenders Act (Cap. 188) ” immediately above item 183 and substituting the words “Moneylenders Act 2008” ”