Money-lenders and Infants Loans (Amendment) Act 1948 (NSW)

MONEY-LENDERS AND INFANTS LOANS

(AMENDMENT) ACT.

Act No. 3, 1948.

An Act to amend the Money-lenders and Infants Loans Act, 1941-1946, in certain respects; and for purposes connected therewith. [As- sented to, 22nd April, 1948.]

1941-1948.
BE it enacted by the King's Most Excellent Majesty, lative Council and Legislative Assembly of New South by and with the advice and consent of the Legis-	Wales in Parliament assembled, and by the authority of
the same, as follows :—

1 . (1) This Act may be cited as the "Money-lenders

and Infants Loans (Amendment) Act, 1948."

(2) The Money-lenders and Infants Loans Act,

1941, as amended by subsequent Acts and by this Act,
may be cited as the Money-lenders and Infants Loans Act,

2. The Money-lenders and In fan t s Loans Act, 1941-

1946, is amended—

(a)	by omitting from the definition of "Court of
pe t ty s e s s i o n s " in subsection one of section three
the words " o r police m a g i s t r a t e " ;
(b)	by omitting from subsection one of section five the words " c o u r t of pe t ty sessions holden a t the Centra l Police Office in S y d n e y " and by inser t ­ ing in lieu thereof the words " C e n t r a l Cour t of
P e t t y Sessions, S y d n e y " ;

(c) (i) by inser t ing a t the end of subsection one of

section eight the following new p a r a g r a p h s :

(c)

for the substitution of any other per­ son to hold the licence on behalf of a company for a person licensed on behalf of the company who has died or become an insane person or pa t ien t or an incapable person within the meaning of the Lunacy Act of 1898, as amended by subsequent Ac t s— order the subst i tut ion of such o the r person accordingly and the endorse­ ment of the subst i tut ion on the licence;

(d)

for the substitution of the new name of a company where the name of such company has been lawfully changed for the name shown in the licence issued to any person on behalf of such

company—order the subst i tut ion of

such new name for the name shown in the licence as aforesaid and the endorsement of the subst i tut ion on the licence;

(ii)   by inserting in subsection three of the same section after the word " a d d r e s s " the words " a n y person or a new name of a c o m p a n y " ;

(d) by inserting in section ten after the words "in a l i cence" the words " o r for any subst i tut ion in accordance with p a r a g r a p h (c) or p a r a g r a p h (d) of subsection one of section eight of this A c t " ;

(e)

(e)	by inserting in subsection one of section eleven after the words " i n a l i cence" the words " o r for any subst i tut ion in accordance with p a r a ­
g r a p h (c) or p a r a g r a p h (d) of subsection one of

section eight of this A c t " ;

(f)	by inserting in section seventeen after the word
" a d d r e s s e s " wherever occurr ing the words

" p e r s o n s and new names p u r s u a n t to pa ra ­ g r a p h s (b) (c) and (d) of subsection one of section eight of this A c t " ;

(g)	by inserting in subsection one of section eighteen
a f te r the word " a d d r e s s e s " the words " p e r s o n s

and new names p u r s u a n t to p a r a g r a p h s (b) (c) and (d) of subsection one of section eight of this A c t " ;

(h) (i) by inser t ing in p a r a g r a p h (f) of subsection

one of section nineteen af ter the word " l i c e n c e " the words " o r of any person or

new name p u r s u a n t to p a r a g r a p h (c) or

p a r a g r a p h (d) of subsection one of section

eight of this A c t " ;

(ii)   by omitting from subsection two of the same section the word " s u b s e c t i o n " where secondly occurr ing and by inser t ing in lieu

thereof the word " s e c t i o n " ;

(iii)   by inserting at the end of the same subsec­

t ion the following new p a r a g r a p h : —

W h e r e a licence re fer red to in p a r a g r a p h

(a) and p a r a g r a p h (b) of subsection one of th is section is not renewed in accordance

wi th the provisions of th is Act and within	three months of the expi ry of such licence
a licence is issued to the person who would have been enti t led to a renewed licence if applicat ion therefor had been duly made, the fee for the licence so issued shall, not­ wi ths tand ing any th ing contained in subsec­ t ion one of this section, be ten pounds.

(i)   by omitting from subsection one of section

twenty the words " o r police m a g i s t r a t e " ;

( J )

(j)	by inserting at the end of subsection one of
section twenty- three the following new p r o v i s o :

P rov ided fur ther t ha t this subsection shall no t apply where the securi ty given by the bor rower is over plant , fixtures, or fittings or goods, wares or merchandise which a r e owned or used or in tended to be used or which a re to be acquired and when so acquired will be owned and used or in tended to be used by the bor rower in or in connection wi th the business in which he is engaged.

(k) by inserting next after section twenty-three the following new sect ion:—

23A. (1) Any contract of guaran tee executed af ter the commencement of the Money-lenders and In fan t s Loans (Amendment ) Act, 1948, whereby a person guaran tees the repayment to any money-lender of any money lent by him shall, if such contract binds the gua ran to r—

(a)	to pay to the money-lender a larger sum than tha t which the bor rower is liable to pay under the contract in respect of which the gua ran tee is g iven; or
(b)	to perform any obligation in respect of any loan of money by the money-lender other t han the loan the subject of the contract in respect of which the gua ran ­ tee is g iven;

be null and void unless such contract of gua ran ­

tee is executed by the g u a r a n t o r in the presence

of a chamber magis t ra te , clerk of pe t ty sessions, or a solicitor ins t ructed and employed independ­ ently of the money-lender and is certified by such mag i s t r a t e , clerk of pe t ty sessions or solicitor

as here inaf ter provided.

The mag i s t r a t e , clerk of pe t ty sessions or

solicitor—

(i)   shall read over and explain, or cause to be read over and explained in his presence, to the g u a r a n t o r the cont rac t

of g u a r a n t e e ; and (ii)

(ii) shall examine the g u a r a n t o r touching

his knowledge of such con t rac t ; and

(iii)   if he thinks fit may so examine him

separa te ly and a p a r t f rom any other

pe r son ; and

(iv) if he is satisfied t ha t the g u a r a n t o r

unders tands the t rue p u r p o r t and effect

thereof and freely and voluntar i ly executes the same, shall cert ify in wr i t ing upon the contract of guaran tee t ha t the contract has been so read over and explained, and tha t he has examined the g u a r a n t o r and is satisfied as herein­ before required, and t h a t the g u a r a n t o r

has executed the contract in his

presence.

(2) Any contract of gua ran tee executed before the commencement of the Money-lenders and In fan t s Loans (Amendment) Act, 1948, whereby a person guaran teed the r epaymen t to any money-lender of any money lent by him, shall if such contract binds the g u a r a n t o r as provided in p a r a g r a p h (a) or p a r a g r a p h (b) of subsection one of this section be null and void to the extent to which it re la tes to moneys lent after such commencement, unless the g u a r a n t o r has in the manner prescr ibed by sub­ section one of this section for the execution of a contract of gua ran tee to which such subsection relates , confirmed such contract .

(1) by inser t ing next af ter subsection two of sec­

t ion twenty-six the following new subsection:—
(2A) Where any person publishes or causes to
be published as aforesaid any adver t i sement
which contains pa r t i cu la r s as to the amount of
in teres t payable upon any loan by a money­
lender, the number of ins ta lments by which any
such loan and in teres t is repayable , or the inter­
vals between successive repayments of instal­
ments in respect of any such loan, such
adver t i sement shall, no twi ths tanding any th ing
contained in subsection two of this section, show

or

or express the r a t e per centum per annum rep re ­ sented by the in teres t proposed to be charged as calculated in accordance with the provisions of the Schedule.

(m) by inserting next after subsection two of section thir ty-nine the following new subsection:—

(2A) Notwi ths tanding anyth ing contained in subsection two of this section the court m a y under such circumstances as it deems p r o p e r o rder subst i tuted service of the summons on such persons affected by the applicat ion as i t thinks fit.

(n) by inserting next after section forty the follow­ ing new sect ion:—

40A. (1) Proceedings by a money-lender or any person act ing on his behalf, for the seizing or tak ing possession of goods the subject of a bill of sale may, subject to this Act, be taken under section thi r ty- two of the Police Offences Act, 1901-1947, as amended by subsection two of this section.

This subsection shall apply only to the seizing or tak ing possession of goods the subject of a bill of sale where the value of the goods com­ pr ised in such bill of sale does not exceed two hundred and fifty pounds .

(2) The Police Offences Act, 1901-1947, is amended by inser t ing a t the end of section thir ty- two the following new subsection :—

(7) (a) Subject to the provisions of the Money-lenders and Infan ts Loans Act, 1941- 1948, this section shall extend to proceedings for the seizing or t ak ing possession of goods the subject of a bill of sale of which a money­ lender is g ran tee and of which the value does not exceed two hundred and fifty pounds.

(b) F o r the purpose only of the appl i ­ cation of this section to proceedings as aforesaid—

(i)   subsection one of this section shall have effect as if the words " t h e value of

which

which is not g r ea t e r t han twenty pounds, and not being deeds, muni­ ments , or p a p e r s re la t ing to any p ro ­ p e r t y of g rea te r value t han fifty p o u n d s " were omitted and the words " t h e value of which is not g rea t e r t han two hundred and fifty p o u n d s " were inser ted in lieu thereof;

(ii)   subsection three of this section shall have effect as if the words " t w e n t y p o u n d s " were omitted and the words " t w o hundred and fifty p o u n d s " were inser ted in lieu thereof.

(c) I n any proceedings under this sec­ t ion for the seizing or tak ing possession of goods the subject of a bill of sale of which a money-lender is grantee , the complaint may be made to and the summons may be issued by any Jus t ice , but, subject to this exception, the jur isdict ion in respect of such proceedings conferred on a Jus t ice by this section shall be exercisable only by a s t ipendiary mag i s t r a t e

s i t t ing alone.

(o) by inser t ing at the end of section forty-one the following new subsect ions:—

(2) Where under the t e rms of any bill of sale given to a money-lender by way of securi ty for the repayment of money lent by him or for the paymen t of in teres t on money so lent the bor­ rower is unde r a duty to keep the goods the

subject of the bill of sale in his possession or
control , the bor rower shall, on service upon him

of a request in wr i t ing from the money-lender, inform the money-lender where the goods a re at the t ime when the informat ion is given, or, if it i s sent by post , a t the t ime of post ing.
(3) W h e r e a money-lender has reasonable g rounds for believing tha t goods the subject of a bill of sale given to him by way of securi ty for the repayment of money lent by him or for the payment of in teres t on money so lent are , con t r a ry to the t e rms of such bill of sale, in the

possession

possession or control of some person other than the borrower, he may serve upon such person a request in writing that such person shall give information as to whether or not the goods are in his possession or control, and if they are, then as to where the goods are at the time when the information is given, or, if sent by post, at the time of posting.

(4) If a borrower, or a person upon whom a request has been served under subsection three of this section, fails without reasonable cause- to give the said information within fourteen days of the service of the request upon him, he shall be guilty of an offence and shall be liable on summary conviction to a penalty not exceeding ten pounds.

(p) by inserting in subsection one of section fifty- one after the word "addresses" wherever occurring the words "persons and new names of companies."