Moneylenders act – Singapore real estate agency
In the Moneylenders Act, “moneylender includes every person whose business is that of moneylending or who carries on or advertises or announces himself or holds himself out in any way as carrying on that business … but does not include ..(c) any person … carrying on any business not having for its primary object the lending of money in the course of which and for the purposes whereof he lends money…” . Section 3 provides that: any person who lends a sum of money in consideration of a larger sum being repaid shall be presumed until the contrary is proved to be a moneylender. Singapore real estate agency.
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