Singapore legislation
Section 2
Section 2
Interpretation
In this Act, unless the context otherwise requires —“authorised name” and “authorised address” mean respectively the name under which and the address at which a moneylender is authorised by a licence granted under this Act to carry on business as a moneylender;“company” means any body corporate being a moneylender;“firm” means an unincorporated body of two or more individuals, or one or more individuals and one or more corporations, or two or more corporations, who have entered into partnership with one another with a view to carrying on business for profit;“interest” does not include any sum lawfully charged in accordance with the provisions of this Act by a moneylender for or on account of stamp duties, fees payable by law and legal costs but, save as aforesaid, includes any amount by whatsoever name called in excess of the principal paid or payable to a moneylender in consideration of or otherwise in respect of a loan;“licence” means a moneylender’s licence issued under this Act;“moneylender” includes every person whose business is that of moneylending or who carries on or advertises or announces himself or holds himself out in any way as carrying on that business whether or not that person also possesses or earns property or money derived from sources other than the lending of money and whether or not that person carries on the business as a principal or as an agent but does not include —
any body corporate, incorporated or empowered by a special Act of Parliament or by any other Act to lend money in accordance with that Act;
any society registered under the Cooperative Societies Act [Cap. 62];
any person bona fide carrying on the business of banking or insurance or bona fide carrying on any business not having for its primary object the lending of money in the course of which and for the purposes whereof he lends money;
any pawnbroker licensed under the provisions of any written law in force in Singapore relating to the licensing of pawnbrokers; and
any finance company licensed under the Finance Companies Act [Cap. 108]. “principal”, in relation to a loan, means the amount actually lent to and received by the borrower;“Registrar” means the Registrar of Moneylenders appointed under this Act and includes an Assistant Registrar.
Definition
“authorised name” and “authorised address” mean respectively the name under which and the address at which a moneylender is authorised by a licence granted under this Act to carry on business as a moneylender;
Definition
“company” means any body corporate being a moneylender;
Definition
“firm” means an unincorporated body of two or more individuals, or one or more individuals and one or more corporations, or two or more corporations, who have entered into partnership with one another with a view to carrying on business for profit;
Definition
“interest” does not include any sum lawfully charged in accordance with the provisions of this Act by a moneylender for or on account of stamp duties, fees payable by law and legal costs but, save as aforesaid, includes any amount by whatsoever name called in excess of the principal paid or payable to a moneylender in consideration of or otherwise in respect of a loan;
Definition
“licence” means a moneylender’s licence issued under this Act;
Definition
“moneylender” includes every person whose business is that of moneylending or who carries on or advertises or announces himself or holds himself out in any way as carrying on that business whether or not that person also possesses or earns property or money derived from sources other than the lending of money and whether or not that person carries on the business as a principal or as an agent but does not include —
any body corporate, incorporated or empowered by a special Act of Parliament or by any other Act to lend money in accordance with that Act;
any society registered under the Cooperative Societies Act [Cap. 62];
any person bona fide carrying on the business of banking or insurance or bona fide carrying on any business not having for its primary object the lending of money in the course of which and for the purposes whereof he lends money;
any pawnbroker licensed under the provisions of any written law in force in Singapore relating to the licensing of pawnbrokers; and
any finance company licensed under the Finance Companies Act [Cap. 108].
Definition
“principal”, in relation to a loan, means the amount actually lent to and received by the borrower;
Definition
“Registrar” means the Registrar of Moneylenders appointed under this Act and includes an Assistant Registrar.