Hong Kong Ordinances

MONEY LENDERS ORDINANCE - SECT 33B

Specific exemptions

(1) A person (whether a money lender or not) may make an application-

   (a)  in the prescribed form; and

   (b)  accompanied by the prescribed fee, to the Registrar to be exempted
        from all or any of the provisions of this Ordinance.

(2) Where the Registrar receives an application under subsection

(1) he shall, after consultation with the Financial Secretary, by notice in
writing served on the person who made the application-

   (a)  grant the exemption subject to such conditions, if any, as he may deem
        fit; or

   (b)  refuse to grant the exemption.

(3) Without limiting the generality of the Registrar's power under subsection
(2)(a) to impose conditions on an exemption granted under that subsection-

   (a)  such conditions may include a condition that the exemption shall apply
        to a loan, or class of loans, specified in the exemption; and

   (b)  the Registrar may, by notice in writing served on the person to whom
        the exemption is granted, revoke, vary, or add to any condition
        subject to which the exemption is granted.

(4) An exemption granted under subsection (2)(a) shall be in the prescribed
form and-

   (a)  may be revoked at any time by the Registrar by notice in writing
        served on the person to whom the exemption is granted; and

   (b)  unless sooner revoked under paragraph (a), shall remain in force for a
        period of 3 years, or such lesser period as may be specified by the
        Registrar after consultation with the Financial Secretary, commencing
        on the date on which the exemption is so granted or, if the exemption
        specifies a later date, that later date, and that exemption may be
        renewed from time to time by further applications made under
        subsection

(1). (Added 69 of 1988 s. 31)