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Section 5C

Duration of licence

of Moneylenders Act 1951

ActIn forceProvision 8 of 77
Section 5C
(1)

Subject to section 9D and subsection (3), a licence shall, unless sooner revoked, be valid for a period not exceeding two years.

(2)

Where a licence is granted, the Registrar shall specify in the licence the date on which the licence is to come into force and the date of its expiry.

(3)

Where on the date of expiry of the licence, an application for the renewal of the licence under section 5E is pending before the

Registrar, that licence shall remain in force until the application is disposed of, or sixty days after the date of expiry of the licence, whichever is the earlier.