Factors to be considered by Registrar

In determining the type of disciplinary measure or enforcement action, other than a late payment penalty, and the amount of an administrative penalty to be imposed on a licensee, for an act or omission which entitles the Registrar to take a disciplinary measure or enforcement action, the Registrar– (a) shall take into account the following factors– (i) the nature and seriousness of the act or omission committed by the licensee; (ii) whether the licensee has previously committed a similar or other omissions or acts and if so, the number 18 Moneylenders and seriousness of such acts or omissions; (iii) whether the omission or act was deliberate, reckless or caused by the negligence of the licensee; (iv) whether any loss or damage has been or is likely to be sustained by third parties as a result of the omission or act; (v) whether there has been or is likely to be any gain to the licensee as a result of the act or omission; (vi) the ability of the licensee to pay the penalty; and (b) may take into account any other matters it considers appropriate.