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Malaysia legislation

Section 15

of *MONEYLENDERS ACT 1951

Section 15

Contract by unlicensed moneylender unenforceable

No moneylending agreement in respect of money lent after the coming into force of this Act by an unlicensed moneylender shall be enforceable.

*NOTE—Previously “one thousand ringgit” – see Act A1193.

**NOTE—Previously “five thousand ringgit”– see Act A1193.

Moneylenders 45

Read in full context — *MONEYLENDERS ACT 1951 →