Records to be kept

(1) In addition to the obligations under section 16 of the Money Laundering and Terrorism (Prevention) Act, every licensee shall keep or cause to be kept in such manner as the Registrar may directkept. CAP. 104. (a) records relating to the moneylending business sufficient to exhibit and explain the financial position of the business, including daily entries in sufficient detail of all sums of money received and paid; (b) records of the contracts for loans in which the licensee is or has been concerned as referred to in this Part; and (c) such other records as the Registrar may direct. (2) The records referred to in this regulation shall be maintained in English and may be kept in an electronic form.