Moneylenders Act 2008 · 2020 Revised Edition · Part 2 · Licensing of Moneylenders
6. Renewal of licences
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An application for the renewal of a licence must be made at least one month before the expiry of the licence, in the form and manner determined by the Registrar.
licence
“licence” means a moneylender’s licence issued or renewed under this Act, and “licensee” is to be construed accordingly;
For the purpose of subsection (1), every licensee must notify the Registrar at least one month before the expiry of the licence if the licensee does not wish to renew the licence.
Registrar
“Registrar” means the Registrar of Moneylenders appointed under section 4 and includes a Deputy Registrar of Moneylenders and an Assistant Registrar of Moneylenders appointed under that section;
The Registrar may renew a licence with or without conditions, or may refuse to renew a licence.
Without affecting sections 7 and 8, the Registrar must not renew a licence —
where any information or statement furnished by the licensee that is material to the application for the renewal of the licence under this section is incomplete, false or misleading;
where the licensee ceases to satisfy the requirements of the class or description of the licence to be renewed; or
where the licensee does not place or maintain with the Accountant-General as security for the proper conduct of the licensee’s business of moneylending in Singapore, in the form determined by the Registrar, a deposit of such amount as the Minister may prescribe, for each place of business in respect of which the licence is to be renewed.
Upon the renewal of a licence, the licence continues to be valid for a further period of 12 months or any other prescribed period specified in the licence from the date immediately following that on which, but for its renewal, the licence would have expired.