Money Lenders Act Amendment Act of 1933 (24 Geo v No. 5) (Qld)

14698 MONEY LENDERS. Money Lenders Act Amendment Act. 24 GEO. V. No. 5, METHODIST, PRESBYTERIAN AND, SCHOOLS ASSOCIATION. n., See PART RELIGION. MINING-COAL PRODUCTION. See COAL. MONEY LENDERS. 24 Geo. V. An Act to Amend "The Money Lenders Act of No. 5. THE 1916" in certain particulars. MONEY LENDERS ACT AMEND- [ASSENTED TO 11TH OCTOBER, 1933.] B MENT ACT OF 1933. E it enacted by the King's Most Excellent Majesty~ by and with the advice and consent of the Legis- lative Assembly of Queensland in Parliament assembled~ and by the authority of the same, as follows :- Short title 1. (1.) This Act may be cited as "The Money caonnds t ructl . On. r L e e a n d de a r s s o A n c e t w A I . m th en * d " mTehnet MAcotne o y 'J f L 1 e 9 n 3 d 3 e , r " s A an c d t o s f h 1 al 9 l 16 b , e " herein referred to as the Principal Act. The Principal Act and this Act may collectively be cited as " The Money Lenders Acts, 1916 to 1933." Com;,ner't"t (2.) tThis Act shall come into force on a date to men 0 c. be proclaimed by the Governor in Council by Proclamation published in the Gazette. Amendments of the Principal Act. Amondment 2. Section three of the Principal' Act is amended of s. 3. as follows :- (a) After the definition of "Court" the following proviso is inserted, namely:- "Provided that where the amount of the loan does not exceed two thousand five hundred pounds, the Magistrates Court * 7 Geo. V. No. 13, supra, page 7646. t " The Money Lenders Acts, 1916 to 1933," proclaimed to come into force as from 1st January, 1934 (Gazette, 16th December, 1933, page 1490).

MONEY LENDERS. 14699 1933. Money Lenders Act Amendment Act. constituted pursuant to *" The Magistrates Oourts Act of 1921," and constituted by a police magistrate sitting alone, may constitute thPv court for the purposes of this Act." (b) Mter the definition of "Court" the following definition is inserted, namely:- " "Hire-purchase agreement"-A hire-purchase Hire- agreement with respect to goods or chattels, ~ ; ; Z: ~ ~ ~ t. and includes a letting of goods or chattels with an option to purchase and an agreement for the payment of goods or chattels by instalments, whether such agreement describes such instalments as rent or hire or otherwise. The person who is the lessee or purchaser of the goods or chattels shall be called the " lessee," and the person who lets or sells the goods or chattels shall be called the " lessor." " (c) Mter the definition of "Loan" the following definition is inserted, namely :- " "Minister"-The Attorney-General or other Minister. Minister of the Crown for the time being administering this Act." (d) The definition of "Money-lender" is amended as follows : - The words "twelve pounds," wherever they occur in the definition, are repealed, and the words "eight pounds" are respectively inserted in lieu thereof. (e) Mter the definition of "Money-lender" the following definition is inserted, namely:- " " Person" includes a corporation or company Person. or a firm registered under t" The Registration of Firms Acts, 1902 to 1912." " (f) Mter the definition of "Prescribed" the following definition is inserted, namely:- " " Registrar "-The Registrar of Money Lenders Registrar. appointed under this Act: the term also' includes a deputy registrar or an officer for the time being performing the duties of registrar." * 12 Geo. V. No. 22, supra, page 9713. t 2 Edw. VII. No. 12 and 3 Geo. V. No. 27, snp ra ,page 5795.

14700 MONEY LENDERS. Money Lenders Act Amendment Act. 24 GEO. V. No. 5, ((1) In the definition of "This Act" the words "and Rules of Court" are inserted after the word " regulations." Amendment 3. Section four is amended by the addition thereto oNfe 8 w . 4s. ub· of an additional subsection, namely:- section 2A. When court " (2A.) In any proceedings in respect of any money may declare lent by a money-lender after the commencement of interest is :!o" The }I![oney Lenders Act Amendment Act of 1933," or in excessive. respect of any agreement or security made or taken after the commencement of such lastmentioned Act in respect of money lent either before or after the commencement of such lastmentioned Act, the court shall have authority and jurisdiction to declare that the interest charged to the bOlTower is excessive, and that the transaction is harsh and unconscionable notwithstanding that the interest charged in respect of the loan or transaction concerned does not exceed such maximum rate per centum per annum (as charged and calculated in accordance with the provisions of section 4A of this Act) as may, pursuant to the provisions of this Act, be from time to time hereafter prescribed, and having regard to the date of the loan or transaction concerned." New ss. 4A 4. After section four of the Principal Act the and 4B. following new sections are inserted, namely : - Calculation of interest on loan. " [4A.] For the purposes of this Act, the money- lender shall calculate and charge the interest on the loan to the borrower on the monthly balance of the loan after crediting the borrower with any instalment or instalments made by him during the month, from which instalment or instalments so made during the month the interest payable for such month, and as calculated monthly, has been deducted. Any money-lender offending against the provisions of this Act shall be liable to a penalty not exceeding one hundred pounds. For the purposes of this section the term " Money- lender" shall also include a lessor under a hire-purchase agreement. Rebate 01 interest. [4B.] In any case where any person pays off any loan or pays any sum to complete the purchase under a hire-purchase agreement before the time actually -------------------------- * 24 Geo. V. No. 5 (this Act).

MONEY LENDERS. 14701 1933. Money Lenders Act Amendment Act. fixed in the instrument for the repayment of the loan or completion of the hire-purchase (as the case may be) the money-lender or lessor shall allow a rebate of interest to the borrower or lessee (as the case may be) calculated on the period of time from the actual paying-off of the loan or the completion of the purchase (as the case may be) to the time fixed in the instrument for the repayment of the loan or completion of the hire-purchase (as the case may be). Any person offending against the provisions of this Act shall be liable to a penalty not exceeding one hundred pounds. The court, in addition to any penalty prescribed by this section, shall have power to order that any excess interest so charged and retained by the money- lender shall be paid over to the borrower or lessee (as the case may be)." 5. In subsection one of section five all words Amendment from and including " When by any instrument" to and of s. 5. including" by evidence that-" are repealed, and the following words are inserted in lieu thereof, namely :- "When proceedings are taken in any court in respect of any hire-purchase agreement, the court, if satisfied by evidence that-". Section five is also amended by the insertion New sub. therein of an additional subsection, namely :_ section lA. " (lA.) In any proceedings in respect of any hire- When oourt purchase agreement after the commencement of *" The : ~ la! " e lYloney Lenders Act Amendment Act of 1933" in respect intere~ t is of a hire-purchase agreement made or taken after the exceSSIve. commencement of such lastmentioned Act, the court shall have authority and jurisdiction to declare that the interest charged to the lessee by the lessor is excessive and that the transaction is harsh and unconscionable notwithstanding that the interest charged in respect of the hire-purchase agreement does not exceed such maximum rate per centum per annum (as charged and calculated in accordance with the provisions of section 4A of this Act) as may, pursuant to the provisions of this Act, be from time to time hereafter prescribed, and having regard to the date of the hire-purchase agreement concerned.', * 24 Geo. V. No. 5 (this Act).

14702 MONEY LE~ DERS. Money Len,ders Act Amendment Act. 24 GElo. V. No. 5, New s. 5A. 6. A new section is inserted after section five of the Principal Act, as follows ;- Application "[5A.] Any application made pursuant to the in camera. provisions of sections four and five of this Act shall be heard by the court in camera, unless in any particular case the court decides in its discretion that the matter should be heard in open court." Amendment 7. Section six of the Principal Act is amended as oNfesw. 6s. ub. follows ; - section lA. (a) A new subsection (lA) IS inserted after subsection one, as follows ;- 01 C~ ~ nge " (lA.) Upon receipt of the prescribed notice in a ress, c. writing that a money-lender has- (a) Changed the address of his place of business as a money-lender; or (b) Opened up a new place of business as a money-lender, and upon receipt of the prescribed fee and his certificate of registration, the registrar shall make such alterations in the certificate of registration and in the register of money-lenders as may be necessary." New sub· section 2. (b) Subsection two of the said section is repealed~ and the following new subsection is inserted in lieu thereof ;- Renewal of " (2.) The registration of a money-lender shall registration cease to have effect at the expiration of one year from the date of the registration, but may be renewed from time to time, and if renewed shall have effect for one year from the date of renewal. Every money-lender shall, within one month after the issue of regulations which shall be made under *" The Money Lenders Act of 1916," as amended by t" The Money Lenders Act Amendment Act of 1933," be required to again register as a money-lender and pay such fees as are prescribed by such regulations~ notwithstanding that the certificate of registration existing at the commencement of t" The Money Lenders Act Amendment Act of 1933 " shall not have expired; Provided that the regulations may prescribe that a refund may be made on such basis as may be prescribed in respect of the registration fee already paid by him. * 7 Geo. v. No. 13, supra, page 7646. -r :;:4 Geo. V. No. 5 (this Act).

MONEY LENDERS. 1933. Money Lenders Act Amendment Act. And if any money-lender shall within one month after the issue of such regulations fail again so to register and to pay the prescribed fees as aforesaid, such money- lender shall be deemed to be an unregistered money-lender for all the purposes of this Act." 'NRLIAMENIARY DWTSMAt- 8. After section six of the Principal Act the following Now 13. 6A. new section is inserted, namely :— "[6A.] A money-lender or, in the case of a Inspection of corporation or joint stock company, the secretary, books, 31e. manager, director, or public officer thereof, upon demand by the registrar, or any person appointed in that behalf by the Minister, shall produce for his inspection any books, accounts, registers, documents, or writings relating to his business as a money-lender or, when so directed by the registrar in any particular case, any other books, accounts, registers, documents, or writings in his possession whether relating to his business as a money- lender or not. The registrar or such person may, without fee or reward, take or receive such notes, copies, or extracts thereof or therefrom as he may deem necessary. Any person who obstructs the registrar or any person so appointed as aforesaid, and any person who refuses to produce such books, accounts, registers, documents, or writings as aforesaid, or obstructs the taking of any such notes, copies, or extracts, or refuses to answer any question relating to such books, accounts, registers, documents, or writings, or who wilfully gives any untruthful answer to any such questions shall be guilty of an offence, and shall on conviction be liable to a penalty not exceeding one hundred pounds." by om9.itStiencgtitohne wtwoerldvse" otwf ethlveePproinucnidpsa" l aAncdt bisyaimnseenrtdiendg o A f m s. en 1 d 2 m . ent in lieu thereof the words "eight pounds." 10. Section thirteen of the Principal Act is amended Amendment by omitting the words "twelve pounds," where those of s ' 13' • words thrice occur, and by inserting in lieu thereof the words "eight pounds" ; also all words from "or there shall" to and including " transaction " in subsection one are repealed.

14704 MONEY LENDERS. Money Lenders Act Amendment Act. 24 GFo. V. No. 5, New s. 14. 11. Section fourteen of the Principal Act is repealed and the following section is inserted in lieu thereof, namely :— Raosbetstaotirnicintigona be la"w [ f 1 u 4 l .] foSruabnjeycmt aosnheeyr-eleinnadfeterrtoprcohvairdgeed,, riet csohvaellr, noort loan. receive any moneys for or in respect of the procuring, negotiation, or obtaining any loan after the commencement of *" The Money Lenders Act Amendment Act of 1933" • Provided that the above provisions shall not preclude the lender from charging or recovering or receiving from the borrower such sums as shall include any costs or fees paid or payable in respect of the preparation of the documents in question (where such documents are prepared by a solicitor, legal practitioner, or conveyancer), or in respect of the payment of any stamp duty or other registration fees in regard thereto, or for valuation charges or other reasonable fees paid out of pocket by the lender concerned." Ntoe1w7sEs.. 17A the fo 1 l 2 lo . wAinfgtenr eswecstieocntiosnesveanreteiennseortfetdh, enaPmrienlcyip: — al Act Entries in money- ' lenders' books deemed made by him. "[17A.] (1.) Every entry in any book kept or belonging to a money-lender or found on his premises shall be deemed, unless the contrary is shown, to have been made by or with the authority of such money-lender. Copies of (2.) A copy of any entry in any prescribed register reengtriisetesrisnto of money-lenders purporting to be signed by the registrar be evidence. or any officer of the Department of Justice making the same shall be prima facie evidence of the truth of the matters stated in such copy. Offences by [17B.] Where any offence against any of the company. provisions of this Act is committed by a corporation or company, the chairman of directors or manager or other governing officer, by whatever name called, of such corporation or company shall be liable to the punishment provided by this Act for such offence, unless the person charged proves that such offence was committed without his knowledge or connivance and without any negligence on his part. * 24 Geo. V. No. 5 (this Act).

1933. MONEY LENDERS. Money Lenders Act Amendment Act. 14705 [170.] The Minister shall appoint an officer of the Registrar of Chief Office of the Department of Justice, to be called Money the "Registrar of Money Lenders," who shall keep an r L e e g ~ i d s e te r r s . and indexed register in the prescribed form of all money- lenders in Queensland. Any person upon payment of the prescribed fee Inspection of may inspect the register of money-lenders. register. [I7D.] (1.) Every money-lender shall make Applications raepgpI" lsitcraattIiOonn otor retnheewaRleogfisr'etrgaIrstroaftioMn oanseay mLoennedye- r 1 sendfoerr frooergr. risetnreawt' IaOl.n in accordance with the Act. Such application shall be accompanied by the prescribed fee and by a statutory declaration to be made by the applicant in the prescribed form, which declaration shall either be delivered at the office of the Registrar of Money Lenders or transmitted to that office by prepaid registered letter post. (2.) The Registrar of Money Lenders, upon receipt Hegistration. of such statutory declaration and of the prescribed fee, shall register the name of the money-lender. (3.) The Registrar of Money Lenders shall upon Issue of every registration issue to the money-lender a certificate certificate. in the prescribed form and shall, at any time upon request being made and the prescribed fee tendered by any person, issue to such person a duplicate of such certificat8. [I7E.] When any money-lender ceases to carry on Not~ ce of the business of a money-lender he shall send by pre-paid ~:~ ~~~ ~so~s post or deliver to the registrar a notice in the prescnbeda money- form, and upon receipt of such notice the registrar shall lender. cancel the registration of such money-lender accordingly. On the cancellation of the registration of a money- Refund ~n lreen f udne d r e d sutcoh hmI · monaeny- laemndoeurntshbaelal rm . beg tehnetitslaemd e troe 1 ahtaI . Oven coreafgncisetlrlaattIioOnn. to the fee paid by him for and in respect of his certificate of registration as the unexpired portion of the original term of such registration bears to the whole of the term." 13. The following additional sections are inserted New ss. 17F after sections 17 A to 17 E, previously inserted, namely:- to 17 J. " [I7F.] Notwithstanding anything in this Act or Pres?ribed in any Act or law to the contrary, from and after the : ~ :l~ um date of commencement of *" The Money Lenders Act interest. * 24 Geo. V. No. 5 (this Act).

14706 MONEY LENDERS. Money Lenders Act Amendment Act. 24 GEO. V. No. 5, Amendment Act of 1933," no money-lender (or in the case of a hire-purchase agreement) no lessor, shall in respect of any loan or transaction made or entered into after such date, lend or agree to lend to any other person any moneys at a rate of interest exceeding such maximum rate per centum per annum (as charged and calculated in accordance with the provisions of section 4A of this Act) as may, pursuant to the provisions of this Act, be from time to time hereafter prescribed, and having regard to the date of the loan or hire-pwchase agreement concerned. Any person offending against the provisions of this Act shall be liable to a penalty not exceeding one hundred pounds in respect of every loan or hire-purchase agreement in respect of which such offence may have occurred. General penalty. [17G.] Any person who is guilty of any offence or of any contravention of, or of neglecting or failing or refusing to observe any of, the provisions of this Act shall, where no specific penalty is provided therein, be liable to a penalty not exceeding fifty pounds. Offences and fees. [17H.] All proceedings in respect of offences against this Act or for the recovery of any fees thereunder shall be heard and determined in a summary way on complaint under *" The Justices Acts, 1886 to 1932." Contracting. [171.] No contract or agreement made or entered opurothibited. into either before or after the passing of t" The Money Lenders Act Amendment Act of 1933" shall operate to annul or vary or exclude any of the provisions of this Act or to prevent the court from making any order under this Act. Cancellation [17g.] (1.) If any money-lender who has been of license. convicted of any offence against this Act is within twelve months thereafter convicted of a second or any subsequent offence, the court (when constituted by a police magistrate sitting alone) may, if it thinks fit, in addition to any other penalty or punishment, and on application being made by the registrar in that behalf, cancel the license. (2.) Unless the money-lender is actually present by himself or his solicitor or agent at the time of the making of the order of the court under this section, any application * 50 Vic. No. 17 and amending Acts, supra, pages 1132 et seq. t 24 Geo. V. No. 5 (this Act).

MONEY LENDERS. 14707 1933. Money Lenders Act Amendment. Act. to the court by the registrar shall not be entertained by the court unless the registrar has served on the money- lender in question, in accordance with the practice of the court as to services of summonses, a notice of his intention to make such application for cancellation. The practice of the court in question as to the time and place and method of service shall apply to the service of a notice under this section. (3.) An appeal shall lie from the decision of the court to the Supreme Court. Such appeal shall be by way of rehearing and shall be made by way of special case in the manner provided by *" The JU8tice8Act8, 1886to1932," with respect to appeals from decisions of justices; and the provisions of those Acts relating to such appeals shall, mutati8 mutandi8, apply to appeals under this section, and the costs of such appeal sh.all be in the discretion of the Supreme Court." 14. Section eighteen of the Principal Act is amended Amendment as follows :_ of B. 18. (a) In subsection one the words "not exceeding one pound for each registration or renewal" are repealed. Also after "payable therdor" the words "and in any such regulations may prescribe such other forms, declarations, notices, and fees in and for such purposes as it may deem fit" are inserted. . The following additional paragraphs are also added to the said subsection one, namely:- "Without limiting the generality of the above provisions, such regulations may from time to time prescribe that, from and after any date or dates as specified in any such regulations, the maximum rate per centum per annum of interest (as charged and calculated in accordance with the provisions of this Act) in respect of any loan or transaction or hire-purchase agreement, as the case may be, made after any such prescribed date or dates, shall not exceed such maximum rate per centum per annum of interest as shall be so prescribed; provided that such regulations may from * 50 Vic. No. 17 and amending Acts, 8upra, pages 1132 et seq. o

1:'1:708 MONEY LENDERS. Money Lenders Act Amendment Act. 24 GEO. V. No. 5,1933. time to time provide therein for such exemptions in respect of such amounts in regard to any such loan or transaction or hire-purchase agreement as so prescribed: Provided further that regulations may be made exempting any individual person or class or classes of persons from registration under this Act. Such regulations may also prescribe the duties, powers, and authorities of the registrar, the furnishing by the money-lender to the borrower of prescribed books of account showing the nature and details of the loan, the payments made thereunder, and such other particulars as may be prescribed." New sub. (b) A new subsection three is added to the said section 3. section, namely:- Application "(3.) Supject to this Act, the provisions of *" The Mofagistrates Magistrates Courts Act of 1921" and Rules of Court Courts Acts made thereunder shall. so far as the same are applicable, and Rules. apply and extend in respect of any matter or thing under this Act, and the power and authority to make L{,ules of Court under such Act shall apply and extend for the purpoEes of this Act." Act in aid of 15. This Act shall be in aid of and not in derogation other Acts. of t" The Mortgagors Relief Acts, 1931 to 1932," and Part VI. of t" The Financial Emergency Act of 1931" as amended by §" The Financial Emergency Relief Extension Act of 1932," * 12 Geo. V. No. 22, supra, page 9713. t 22 Geo. V. No. 6 and Part IV. of 23 Geo. V. No. 10, supra, pages 13848 and 14084. • t 22 Geo. V. Ko. I, supra, page 13402. § 23 Geo. V. No. 10, supra, page 14084. MOTORISTS. See TRAFFIC-ACCIDENTS ON ROADS.