Conditions of licence

In addition to the conditions of a licence provided for in section 2D of the Act, it shall be a condition of every licence issued by the Registrar that the moneylender– (a) commences operation within six months of being granted the licence; (b) provides all customers with accurate and current contact information; 8 Moneylenders (c) maintains an account with a financial institution for the operation of its money lending business; (d) maintains accounting records for its pawn broking operation that are separate from the accounting records for its other moneylending business, if applicable; (e) maintains all records in English; and (f) complies with all other terms and conditions of the licence that the Registrar imposes in accordance with section 2D of the Act. PART 3 Moneylenders’ Responsibilities and Restrictions