THE MONEY LENDERS BILL.
Stringent Provisions.
The Money-lenders Bill, brought down by the Government this session, bears the name of the Minister for Public Works. It is proposed that it shall come into force on Ist January 1902. The measure provides that where proceedings are taken by a money-lender for the recovery of money, the Court may revise the transaction is it considers it is harsh and unconscionable, and may alter it as it thinks fit. Similar powers may also be exercised in regard to a money-lend-er’s proof in bankruptcy proceedings. Every money-lender must bo registered only under his own or usual trade name, and with all the addresses at which he carries on business, and he may only carry on his business in that name, and at those addresses, under a penalty for breach of this provision of £IOO for a first offence, or of three months’ imprisonment for a second or subsequent offence. The penalty for inducing a person to borrow money by false representations is imprisonment for any term not exceeding two years, with or without hard labour, or a penalty not exceeding £SOO, or both.
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https://paperspast.natlib.govt.nz/newspapers/GEST19010727.2.38
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Greymouth Evening Star, Volume XXXI, 27 July 1901, Page 4
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189THE MONEY LENDERS BILL. Greymouth Evening Star, Volume XXXI, 27 July 1901, Page 4
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