Singapore legislation

Clause 9

of Moneylenders (Amendment) Bill

Clause 9

New section 34A

The Ordinance is hereby amended by inserting immediately after section 34 thereof the following new section: —“Power of Minister to grant exemptions34A.—

(1)

The Minister may, upon payment of the prescribed fee, exempt, with or without conditions, any body corporate or society from all or any of the provisions of this Ordinance, and may revoke any exemption granted by him at any time by the service of a notice of revocation in writing on the body corporate or society.(2) Every exemption under subsection (1) of this section shall in the first instance be valid for a period of three years or less from the date of the granting thereof but may, upon payment of the prescribed fee, be extended thereafter, with or without additional conditions, for further periods not exceeding three years at a time.(3) Any body corporate or society which immediately before the date of the coming into operation of this section had been previously exempted from the provisions of this Ordinance by the Minister, by notification published in the Gazette, shall be deemed to have been exempted under this section from the date of the coming into operation of this section until the 31st day of December 1967.”.

Clause 9 — Moneylenders (Amendment) Bill | laws.sg