Singapore legislation

Clause 19

of Moneylenders (Amendment) Bill

Clause 19

Amendment of section 74

In the principal Act, in section 74 —

(a)

in subsection (1), replace “a person under section 66(5)(a)” with “an applicant for a loan under section 66(5)(a) or a surety of an applicant for a loan under section 66A(4)”;

(b)

after subsection (1), insert —“(1A) For the purposes of subsection (1)(a), different types of information may be prescribed in respect of different classes or descriptions of persons who are the subject of a credit report, or different classes or descriptions of licensees.”;

(c)

in subsection (3), after “section 66(5)(a)”, insert “or 66A(4)”;

(d)

in subsection (3)(b), replace “a fee in addition to that which is approved by the Registrar under subsection (2)” with “a fee not exceeding an amount that is approved by the Registrar, in addition to the fee mentioned in subsection (2)”; and

(e)

in subsection (4), replace paragraph (a) with —“(a)the licensee has —

(i)

in the case of a request by a licensee under section 66(5)(a) — submitted the declaration mentioned in section 66(6)(a) and any other document or information prescribed under section 66(6)(b); or

(ii)

in the case of a request by the licensee under section 66A(4) — submitted the declaration mentioned in section 66A(5)(b)(i) and any other document or information prescribed under section 66A(5)(b)(ii); or”.