Hong Kong Ordinances

MONEY LENDERS ORDINANCE - SECT 19

Duty of money lender to give information to borrower

(1) In respect of every agreement, whether made before or after the
commencement of this Ordinance, for the repayment of money lent by a money 
lender, the money lender shall, on demand in writing being made by the
borrower at any time during the continuance of the agreement and on tender by
the borrower of the prescribed fee for expenses, supply to the borrower or, if
the borrower so requires, to any person specified in that behalf in the
demand, a statement (consisting of the original and a copy) signed by the
money lender or his agent showing- (Amended 69 of 1988 s. 16)

   (a)  the date on which the loan was made, the amount of the principal of
        the loan and the rate per cent per annum of interest charged;

   (b)  the amount of any payment already received by the money lender in
        respect of the loan and the date on which it was made;

   (c)  the amount of every sum due to the money lender but unpaid, and the
        date on which it became due, and the amount of interest accrued due
        and unpaid in respect of every such sum;

   (d)  the amount of every sum not yet due which remains outstanding, and the
        date on which it will become due; and

   (e)  the following words, in both English and Chinese, prominently and
        legibly on its face- "THE BORROWER OR OTHER PERSON TO WHOM THIS
        STATEMENT IS SUPPLIED IS REQUIRED UNDER SECTION 19(1A) OF THE MONEY
        LENDERS ORDINANCE TO ENDORSE ON THE COPY OF THE STATEMENT THAT HE HAS
        RECEIVED THE ORIGINAL OF THE STATEMENT AND TO RETURN THE COPY AS SO
        ENDORSED TO THE MONEY LENDER.
        借款人或其他獲得供給此結萛書的人須依照放債人條例第19(1A)條的規定,在結算書的副本上簽註己經收到結算書正本,
        以及將經如此簽註的副本回放債人。 ". (Added 69 of 1988
        s. 16)

(1A) The borrower or other person to whom the original and a copy of a
statement referred to in subsection (1) is supplied under that subsection by a
money lender shall, as soon as practicable after being so supplied-

   (a)  endorse on the copy of that statement words to the effect that he has
        received the original of that statement; and

   (b)  return the copy of that statement as so endorsed to that money 
        lender, who shall then retain it during the continuance of the
        agreement to which that statement relates. (Added 69 of 1988 s. 16)

(2) A money lender shall, on demand in writing by the borrower, supply a copy
of any document relating to a loan made by him or any security therefor to the
borrower or, if the borrower so requires and on payment by the borrower to the
lender of the prescribed fee, to any person specified in that behalf in the
demand. (Amended 69 of 1988 s. 16)

(3) Subsection (1) or (2) does not apply to a request made by a borrower less
than 1 month after a previous request thereunder relating to the same
agreement was complied with.

(4) If a money lender to whom a demand has been made under this section fails
without reasonable excuse to comply therewith within 1 month after the demand
has been made, he shall not, so long as the default continues, be entitled to
sue for or recover any sum due under the agreement on account either of
principal or interest, and interest shall not be chargeable in respect of the
period of default.