53.—(1) This Act does not apply to —(a)
any bank or merchant bank licensed under the Banking Act 1970; or
(b)
any business of pawnbroking carried on by a person licensed under the Pawnbrokers Act 2015.[2/2015; 1/2020]
(2) Every co-operative society registered as a credit society under the Co-operative Societies Act 1979 to provide financial services is, to the extent that such services amount to financing business, exempt from section 3 in respect of such services.
(3) Despite the provisions of this Act, the Authority may exempt any finance company from all or any of the provisions of this Act.
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