Section 9 — MONEYLENDERS ACT 1951

(a)

if—

(i)

an applicant;

(ii)

a director, general manager, manager or secretary of an applicant or any other person holding a similar office or position, where the applicant is a company;

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

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

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(iii)

a president, vice-president, secretary or treasurer of an applicant or any other person holding a similar office or position, where the applicant is a society; or

(iv)

a partner or any member of an applicant or any other person holding a similar office or position, where the applicant is a firm or other body of persons, is a person convicted of an offence involving fraud or dishonesty, or an offence relating to Chapter XVI or XVII of the Penal Code

[Act 574], or is an undischarged bankrupt;

(b)

where at the time the application is made—

(i)

an applicant;

(ii)

a director, general manager, manager or secretary of an applicant, where the applicant is a company;

(iii)

a president, vice-president, secretary or treasurer of an applicant, where the applicant is a society;

or

(iv)

a partner or any member of an applicant, where the applicant is a firm or other body of persons, has, due to a conviction for an offence under this Act, been sentenced to a fine exceeding ten thousand ringgit or to imprisonment (other than imprisonment in default of a fine not exceeding ten thousand ringgit);

(c)

where at the time the application is made, a person who—

(i)

had been a director of a company carrying on the business of moneylending or had been directly

20 Laws of Malaysia ACT 400

concerned in the management of the business of the company;

(ii)

had been a president, vice-president, secretary or treasurer of a society carrying on the business of moneylending, or had been directly concerned in the management of the business of the society;

or

(iii)

had been a partner or any member of a firm or other body of persons carrying on the business of moneylending, or had been directly concerned in the management of the business of the firm or other body of persons, which has been wound up or dissolved by a court, is a director, president, vice-president, secretary, treasurer, partner or member, or is directly concerned in the management of the business of the applicant, where the applicant is a company, society, firm or other body of persons, respectively;

(d)

where the applicant is responsible for the management of his business as a moneylender, and the licence for that business has been revoked;

(e)

where satisfactory evidence has been produced regarding the bad character of the applicant, or of the director, president, vice-president, secretary, treasurer, partner or member, or any person responsible for the management of the business of the applicant, where the applicant is a company, society, firm or other body of persons; or

(f)

where satisfactory evidence has been produced that the applicant, or the director, president, vice-president, secretary, treasurer, partner or member, or any person responsible for the management of the business of the applicant, where the applicant is a company, society,

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firm or other body of persons, is not a fit and proper person to hold a licence.

(2)

Any person aggrieved by the refusal of the Registrar to issue a licence may appeal to the Minister in the prescribed manner and the decision of the Minister shall be final.

Revocation or suspension of licence