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← Moneylenders Act 2008

Moneylenders Act 2008 s 28

s 28 Licences

28.—(1) The Minister may grant a licence to exempt any act from the prohibition in section 25. (2) A licence may be —(a) general or granted to a category of persons or to a particular person; (b) subject to conditions; and (c) of indefinite duration or subject to an expiry date. (3) The Minister may vary or revoke a licence at any time. (4) Where the Minister grants, varies or revokes a licence, he or she must —(a) in the case of a licence granted to a particular person, give written notice of the grant of the licence, or the variation or revocation of the licence to that person; and (b) in the case of a general licence or a licence granted to a category of persons, take such steps as the Minister considers appropriate to publicise the grant of the licence, or the variation or revocation of the licence. (5) Any person who does any act under the authority of a licence but fails to comply with any condition attaching to that licence shall be guilty of an offence and shall be liable on conviction —(a) in the case where the person is a body corporate, to a fine not exceeding $80,000; or (b) in any other case, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (6) The Minister may delegate any power or duty under this section to the Commissioner of Police, except the power of delegation conferred by this subsection.[15H

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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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