Guidelines and guidance notes

(1) The Registrar may issue one or more guidelines specifying requirements, not inconsistent with this Act or the regulations made under this Act, relating to the carrying on by moneylenders of moneylending business. (2) Without limiting sub-section (1), guidelines may provide for the– (a) standards of expected of (b) individuals who may act as the compliance officer for a moneylender; (c) factors that the Registrar will take into account in considering the suitability of a person as a compliance (d) functions and responsibilities of a compliance (e) preparation by moneylenders of a compliance manual and the matters to be included in such a manual; and 60 (f) requirements with respect to the compliance and of a (3) Guidelines may– (a) make different provision in relation to persons, cases or circumstances of different descriptions; and (b) include such transitional provisions as the Registrar considers necessary or expedient. (4) The Registrar may amend, add to or replace any guidelines by notice published in the Gazette. (5) The Registrar may issue guidance notes with respect to– (a) compliance by moneylenders with this Act or the regulations; (b) any matter required or permitted to be specified or provided for in guidelines; and (c) such matters as it considers relevant to its (6) Guidance notes may make different provision in relation to different persons, circumstances or cases. (7) Failure to follow guidance notes issued under this section shall not, of itself, render a person liable to proceedings of any kind but such failure may be taken into account by the Court or the Registrar, as the case may be, in determining whether there has been a contravention of this Act, the regulations or