Section 2

“Authority” has the same meaning assigned to it in the Local

Government Ordinance 1961 [Sabah Ord. 11/1961];

“authorized name” and “authorized address” mean respectively the name under which and the address at which a moneylender is authorized by a licence granted under this Act to carry on business as a moneylender;

10 Laws of Malaysia ACT 400

“borrower” means a person to whom money is lent by a moneylender;

“company” means any body corporate being a moneylender;

“Deputy Registrar” means the Deputy Registrar of Moneylenders appointed under section 4;

“firm” means an unincorporated body of two or more individuals or one or more individuals and one or more corporations or two or more corporations who have entered into partnership with one another with a view to carrying on business for profit;

“Inspector” means an Inspector of Moneylenders appointed under section 4;

“interest” does not include any sum lawfully charged in accordance with this Act by a moneylender for or on account of stamp duties, fees payable by law and legal costs but, save as aforesaid, includes any amount by whatsoever name called in excess of the principal paid or payable to a moneylender in consideration of or otherwise in respect of a loan;

“licence” means a moneylender’s licence issued under this Act;

“licensee” means any moneylender to whom a licence has been issued under section 5B;

“local authority” has the same meaning assigned to it in the Local

Authorities Ordinance 1996 [Sarawak Ord. 20/1996];

“Minister” means the Minister charged with the responsibility for local government;

“moneylender” means any person who carries on or advertises or announces himself or holds himself out in any way as carrying on the business of moneylending, whether or not he carries on any other business;

Moneylenders 11

“moneylending” means the lending of money at interest, with or without security, by a moneylender to a borrower;

“moneylending agreement” means an agreement made in writing between a moneylender and a borrower for the repayment, in lump sum or instalments, of money borrowed by the borrower from the moneylender;

“Perbadanan Labuan” has the same meaning assigned to it in the

Perbadanan Labuan Act 2001 [Act 609];

“police officer” means a police officer as defined in the Police Act 1967 [Act 344];

“prescribed” means prescribed by regulations made under this Act;

“principal” means, in relation to a loan, the amount actually lent to and received by the borrower;

“Registrar” means the Registrar of Moneylenders appointed under this Act.

“senior police officer” means a senior police officer as defined in the Police Act 1967.