MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 8 Obligation of moneylender to supply information as to state of loan and copies of documents relating thereto.

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MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 8

Obligation of moneylender to supply information as to state of loan and copies of documents relating thereto.

8.(1) In respect of every contract for the repayment of money lent by a
moneylender whether made before or after the commencement of this Act, the
moneylender shall, on any reasonable demand in writing being made by the
borrower at any time during the continuance of the contract and on tender by
the borrower of the sum of [5p] for expenses, supply to the borrower or, if
the borrower so requires, to any person specified in that behalf in the
demand, a statement signed by the moneylender or his agent showing

(a)the date on which the loan was made, the amount of the principal of the
loan and the rate per cent. per annum of interest charged; and

(b)the amount of any payment already received by the moneylender in respect of
the loan and the date on which it was made; and

(c)the amount of every sum due to the moneylender, but unpaid, and the date
upon which it became due, and the amount of interest accrued due and unpaid in
respect of every such sum; and

(d)the amount of every sum not yet due which remains outstanding, and the date
upon which it will become due.

(2) A moneylender shall, on any reasonable demand in writing by the borrower,
and on tender of a reasonable sum for expenses, supply a copy of any document
relating to a loan made by him or any security therefor, to the borrower, or
if the borrower so requires, to any person specified in that behalf in the
demand.

(3) If a moneylender to whom a demand has been made under this section fails
without reasonable excuse to comply therewith within one month after the
demand has been made, he shall not, so long as the default continues, be
entitled to sue for or recover any sum due under the contract on account
either of principal or interest, and interest shall not be chargeable in
respect of the period of the default, and if such default is made or continued
after proceedings have ceased to lie in respect of the loan, the moneylender
shall be liable on summary conviction to a fine not exceeding five pounds for
every day on which the default continues.

S.9 rep. by 1974 c.39 s.192(3)(b) sch.5 Pt.II. Ss.10, 11 rep. with saving by
1974 c.39 s.192(3)(b) sch.5 Pt.II; SI 1977/325

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Northern Irish Legislation

MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 8