- (c) produces to the Registrar any book, record or other document which he knows or has reason to believe contains information which is false or misleading in a material particular,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $40,000 or to imprisonment for a term not exceeding 12 months or to both.
(2) Any licensee who—
- (a) contravenes any condition of his licence; or
- (b) carries on the business of moneylending under any name other than his business name,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.
PART III
REGULATION OF BUSINESS OF MONEYLENDING, ENFORCEMENT AND PROCEEDINGS
Regulation of advertising and marketing, etc.
16.—(1) No licensee shall knowingly or recklessly issue or publish, or cause to be issued or published, any advertising or marketing material in any form, or any business letter, circular or other document, which contains any information which is false or misleading in a material particular.
(2) For the purpose of subsection (1), any advertising or marketing material or any business letter, circular or other document shall be presumed, unless the contrary is proved, to contain information which is false or misleading in a material particular if such material or document—
- (a) does not state the business name of the licensee;
- (b) states the business name of the licensee in an inconspicuous manner;
- (c) states that the licensee offers loans at a specified percentage of interest without stating the rate of the interest, and the actual rate of interest charged is not per annum;
