fee of $10 or such other amount as may be prescribed, supply to the applicant or any other person on the direction of the applicant not later than 21 days after the date the application is made—
- (a) a statement of account in relation to the loan to which the applicant is or was a borrower or surety, containing the particulars prescribed under subsection (1), for any period of account, not exceeding the duration of the loan, as may be specified by the applicant which shall not in any case be earlier than 5 years before the date the statement is prepared; or
- (b) a copy of any document relating to a contract for a loan granted, or any guarantee or security given for the loan, in relation to which the applicant is or was a borrower or surety.
(4) A licensee who receives any cash payment from or on behalf of a borrower under a contract for a loan shall immediately issue to the payer a receipt, which shall set out in the English language—
- (a) the business name, the address of the place of business from which the loan was taken or the principal place of business, and the telephone number, of the licensee; and
- (b) the amount paid and the date of the payment.
(5) A licensee who issues a receipt in accordance with subsection (4) shall—
- (a) obtain, on the licensee’s copy of the receipt, a signature of the payer acknowledging that he has received the receipt; and
- (b) where the payer is other than the borrower—
- (i) record, on the licensee’s copy of the receipt, such particulars of the payer as may be prescribed; and
- (ii) attach such documents as may be prescribed to the licensee’s copy of the receipt.
(6) The Minister may prescribe such other information to be provided, in such form or manner and within such time as may be prescribed, by a licensee to a borrower in relation to any payment made by or on behalf of the borrower to the licensee.
(7) Any licensee who, without reasonable excuse, contravenes subsection (1), (2), (3), (4) or (5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.
