Section 8

takes out a licence in any name other than his true name;

carries on business as a moneylender without holding a licence or, being licensed as a moneylender, carries on business as such in any name other than his authorised name or at any place other than his authorised address or addresses; or

in the course of business as a moneylender enters as principal or agent into any agreement with respect to any advance or repayment of money or takes any security for money otherwise than in his authorised name,he shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and for a second or subsequent offence to a fine or not exceeding $5,000 or to imprisonment for a term not exceeding 12 months or to both and an offender being a company shall for a second or subsequent offence be liable to a fine not exceeding $10,000:Provided that a moneylender who is not, or in the case of a firm none of the partners of which are, ordinarily resident in Singapore may without being guilty thereby of an offence carry on business in Singapore without holding a licence if he carries on the business solely through an agent duly licensed under this Act to carry on such business in Singapore under the name of that moneylender.