Clause 5

by inserting immediately after the word “language” appearing in the eighth line of subsection (1) thereof the words “and in the prescribed form”;

by deleting the colon appearing at the end of the first proviso to subsection (1) thereof and substituting therefor a full-stop;

by deleting the second proviso to subsection (1) thereof;

by deleting subsection (2) thereof and substituting therefor the following: —“(2) No contract made after the date of the coming into operation of the Moneylenders (Amendment) Act, 1975 for the repayment by a borrower or his agent of money lent to him or to any agent on his behalf by a moneylender or his agent, or for the payment by him of interest on the money so lent, and no security given by the borrower or any such agent as aforesaid in respect of any such contract shall be enforceable unless the money lent was given to the borrower or his agent in the form of an account payee crossed cheque with the words “licensed moneylender” endorsed legibly below the signature of the moneylender or his agent on the cheque made payable to the borrower or his agent.”;

by deleting subsections (7) and (8) thereof and substituting therefor the following: —“(7) Any moneylender or his agent who makes a loan in the form other than that presscribed by subsection (2) of this section shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding two thousand dollars or to imprisonment for a term not exceeding six months or to both such fine and imprisonment.”; and

by renumbering subsection (9) thereof as subsection (8).