Singapore legislation
Section 10
Section 10
Revocation of licence
(1)
The Registrar may by order revoke a licence if he is satisfied —
that the holder of the licence —
has ceased to carry on the business of a moneylender or, if the licensee being a company, goes into liquidation or is wound up or otherwise dissolved; or
is no longer a fit and proper person to continue to hold the licence; or
that the holder of the licence, or, if he is a partner of a firm or is a company, any person responsible for the management of the firm or company —
has been convicted of any offence involving dishonesty or moral turpitude;
is carrying on or has carried on the business of a moneylender in such a manner as renders him unfit to continue to hold the licence;
is contravening or has contravened the provisions of this Act ; or
has been convicted of any offence under this Act or the rules made thereunder.
(2)
The Registrar shall, before revoking any licence under subsection (1), give the person concerned notice in writing of his intention to do so, specifying a date, not less than 21 days after the date of the notice, upon which the revocation shall take effect and calling upon the person concerned to show cause to the Registrar why the licence should not be revoked .
(3)
Where the Registrar has revoked a licence under subsection (1), he shall forthwith inform the person concerned by notice in writing of the revocation .
(4)
The person whose licence has been revoked may, within 14 days after the date of the notice referred to in subsection (3), or such extended period of time as the Minister may allow, appeal in writing against the revocation to the Minister whose decision shall be final.
(5)
An order of revocation shall not take effect until the expiration of a period of 14 days after the Registrar has informed the licensee concerned of the order.
(6)
If within that period the licensee concerned gives due notice of appeal to the Minister, the order shall not take effect unless the order is confirmed by the Minister or the appeal is for any reason dismissed by the Minister or is withdrawn.
(7)
An order of revocation made under this section shall not affect any moneylending transaction entered into before the order is made.