Hong Kong Ordinances

MONEY LENDERS ORDINANCE - SECT 29

Offences by money lenders

(1) Any person who carries on business as a money lender-

   (a)  without a licence; or

   (b)  at any place other than the premises specified in his licence; or

   (c)  otherwise than in accordance with the conditions of his licence; or

   (d)  during any period when his licence is suspended, commits an offence.

(2) Any person who makes any false or misleading statement or furnishes any
false or misleading information in connection with any application for a
licence or the renewal of a licence or in connection with any application for
an exemption under section 33B commits an offence. (Amended 69 of 1988 s. 25)

(3) Any person who, being a licensee, fails to give notice under section 17(1)
of any change in respect of such licensee, or who, having been required by the
Registrar under section 17(2) to furnish any information in respect of such
change, fails to furnish such information or furnishes any false or misleading
information, commits an offence.

(4) Any money lender who-

   (a)  fails to make a note or memorandum in writing of an agreement in
        compliance with section 18;

   (b)  fails to give a copy of such note or memorandum to the borrower in
        compliance with section 18(1)(a); or

   (c)  fails to include in or attach to such copy a summary in writing in
        compliance with section 18(1)(b), commits an offence.

(5) Any money lender who demands or accepts security for a loan in any form
prohibited by regulations made under section 34 commits an offence.

(6) Any money lender who fails to comply with any demand in writing made by a
borrower under section 19 to supply any statement or copy of any document to
the borrower or any person specified in the demand commits an offence.

(6A) Any money lender who fails to retain a copy of a statement referred to in
section 19(1) supplied to him under section 19(1A) during the continuance of
the agreement to which that statement relates commits an offence. (Added 69 of
1988 s. 25)

(7) Any money lender who fails to give a surety any information to which the
surety is entitled under section 20(1) or in respect of which the surety has
made a request by notice in writing under section 20(2) commits an offence.

(8) Any money lender who issues or publishes, or causes to be issued or
published, any advertisement, circular, business letter or other similar
document which contravenes section 26(1) or (2) commits an offence. (Amended
69 of 1988 s. 25)

(8A) Subject to subsection (8B), any money lender or other person who issues
or publishes, or causes to be issued or published, any advertisement which
contravenes section 26(3) commits an offence. (Added 69 of 1988 s. 25)

(8B) Where a person is charged with an offence under subsection

(8A) relating to an advertisement, it shall be a defence for such person to
show-

   (a)  that he carries on the business of issuing or publishing or causing to
        be issued or published advertisements;

   (b)  that he received the advertisement for issuing or publishing or
        causing to be issued or published in the ordinary course of business;
        and

   (c)  that at the time he issued or published or caused to be issued or
        published the advertisement he believed upon reasonable grounds that
        the advertisement clearly showed the words "Money Lender's Licence
        No." immediately followed by the number of the licence of the
        money lender concerned. (Added 69 of 1988 s. 25)

(9) Any money lender who for any of the purposes of his business uses any name
other than the name specified in his licence commits an offence. (Amended 69
of 1988 s. 25)

(10) Any money lender or his partner, employer, employee, principal or agent
or any person acting for or in collusion with any money lender who charges,
recovers or receives any sum as for or on account of any costs, charges or
expenses (other than stamp duties or similar charges) referred to in
section 27(3) or demands or receives any remuneration or reward whatsoever
from a borrower or intending borrower for or in connection with or preliminary
to procuring, negotiating or obtaining any loan made or guaranteeing or
securing the repayment thereof commits an offence. (Added 69 of 1988 s. 25)