Clause 8

by deleting the words “any body corporate or society” in subsection (1) and substituting the words “any person”;

by deleting the words “, 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” in subsection (1); and

by inserting, immediately after subsection (2), the following subsections:“(3) The Minister may at any time revoke whether wholly or in part any exemption granted under subsection (1) by the service of a notice of revocation in writing on the person.(4) Without prejudice to the generality of subsection (3), the Minister may at any time revoke whether wholly or in part any exemption —

for a breach of any condition of the exemption or any provision of this Act or any rules made thereunder; or

if he is satisfied that it is in the public interest to do so.(5) Any revocation under this section shall not affect any moneylending transaction entered into before the date of the revocation.(6) For the avoidance of doubt, subsections (3), (4) and (5) shall apply to any exemption granted whether before, on or after the date of commencement of the Moneylenders (Amendment) Act 2006.”.