Hong Kong Ordinances

MONEY LENDERS ORDINANCE - SECT 21

Early payment by borrower

(1) A borrower under any agreement for the loan of money by a money  lender
shall be entitled at any time by notice in writing to the money  lender and
the payment to the money lender of all amounts payable as principal by the
borrower which are outstanding under the agreement, together with interest
computed up to the date of such payment, to discharge his indebtedness under
the agreement: Provided that the effective rate of such interest shall not
exceed the effective rate at which interest would have been payable under the
agreement if the borrower had not exercised his right under this section to
discharge his indebtedness. (Amended 69 of 1988 s. 17)

(2) (Repealed 69 of 1988 s. 17)