Monevlenders. |Ch. 31. No. 11.

(2) A licence granted in) pursuance of a forged
certificate shall be void, and if any person makes use of
a forged certificate, knowing it to be forged, he shall be
disqualified from obtaining at any time thereafter a money-
lender's licence.

It. (1) No contract for the repayment by a borrower
of money Tent to him or to any agent on his behalf by a
moneylender licensed under this Ordinance or for the pay-
ment by him of interest on money so lent and no security
giver. by the borrower or by any such agent as aforesaid
in respect of any such contract shall be enforceable, unless
av note or memorandum in writing of the contract be made
and signed personally by the borrower, and unless a copy
thereof be delivered or sent to the borrower within seven
davs of the making of the contract, and no such contract
or security shall be enforceable if it is proved that the note
or memorandunr aforesaid was not sizned by the borrower
before the money was lent or before the security was given,
as the ease may be.

(2) The note or memorandum aforesaid shall contain
all the terms of the contract, and in particular shall show
the date on which the loan is made, the amount of the
principal of the loan, and, either the interest charged on
the loan expressed in terms of a rate per centum per annum,
or the rate per centum, per annum represented by the interest
charged as calculated in accordance with the provisions of
the Schedule hereto,

12. (1) The interest which may be charged on loans by
any person other than | moneylender licensed under this
Ordinance shall not exceed the rate of 24 per centum
simple interest per annum, whether such interest is payable
monthly or at any greater fixed period, and nothing herein
contained shall authorise the charging of compound interest
on such loans which would, in effect, amount to simple
interest in excess of such rate per annum.

(2) Interest which may be charged on loans by a
moneylender licensed under this Ordinance, shall not
exceed the respective rates herein specified, namely:

(a) Hf by the terms of the contract the principal ts

T. IV. 34

S49

Form o
nioney-
lenders’
contracts,

Interest to
be charged.