Moneylenders Act 2008 · 2020 Revised Edition · Part 2A · Freezing of Proceeds of Unlicensed Moneylending
23. Order specifying proceeds of unlicensed moneylending
Feedback & supportLast amended by an amending law of 2018.
Where —
the Minister is satisfied that a person has been associated with activities which contravene section 5(1) and the person is detained under an order made under section 30(1)(a) of the Criminal Law (Temporary Provisions) Act 1955 in connection with those activities; and
the Minister has reasonable cause to believe that any property owned or held by any person is proceeds of unlicensed moneylending by reason of the activities mentioned in paragraph (a),the Minister may by order specify —
such property to be proceeds of unlicensed moneylending (called in this Part specified property); or
any account which has been credited with such property as an account with proceeds of unlicensed moneylending (called in this Part a specified account).
The Minister may vary or revoke the order at any time.
The Minister must revoke the order if the person mentioned in subsection (1)(a) is no longer detained and is not subject to the supervision of the police under an order made under section 32 of the Criminal Law (Temporary Provisions) Act 1955.[15C