(3) Every licensee shall notify the Registrar, in writing, of the making of a bankruptcy order against the licensee, or any director, partner or substantial shareholder of the licensee, not later than 14 days after the bankruptcy order is made.
(4) No person shall become a substantial shareholder of a licensee without first obtaining the approval of the Registrar.
(5) Where any person becomes a substantial shareholder of a licensee in contravention of subsection (4), that person shall take such steps as are necessary to cease to be a substantial shareholder of the licensee within such time as the Registrar may require.
(6) Any person who, without reasonable excuse, contravenes subsection (1), (2), (3), (4) or (5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.
Publication of lists
13. The Registrar may, from time to time, cause to be published in such manner as he may determine—
- (a) a list of all licensees and such of their particulars as the Registrar may determine; and
- (b) a list of such persons granted an exemption by the Minister under section 35, and such of their particulars and the conditions of their exemption, as the Registrar may determine.
Unlicensed moneylending
14.—(1) Any person who contravenes, or who assists in the contravention of, section 5(1) shall be guilty of an offence and shall be liable on conviction—
- (a) in the case where the offender is a body corporate, to a fine of not less than $40,000 and not more than $400,000; and
- (b) in any other case—
- (i) to a fine of not less than $20,000 and not more than $200,000 or to imprisonment for a term not exceeding 2 years or to both; and
- (ii) in the case of a second or subsequent offence, to a fine of not less than $20,000 and not more than $200,000 and shall
