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Records to be maintained by moneylender.
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101.—(1) A moneylender shall, in respect of every moneylending agreement, made after the commencement of this section, to which the moneylender is a party, keep a record of the agreement which shall include the following information:
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(a) the agreement number or other reference to identify the agreement,
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(b) the name and address of the borrower,
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(c) the amount of the credit advanced under the agreement,
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(d) the date the credit is advanced,
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(e) the amount of each repayment instalment,
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(f) the rate of interest charged including the APR,
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(g) the amount of each collection charge (if any),
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(h) the number of instalments,
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(i) the total amount payable in respect of the loan, and
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(j) a Schedule showing, in respect of each repayment—
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(i) the date the repayment is made,
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(ii) the amount of the repayment,
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(iii) the amount still outstanding after deduction of the repayment, and
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(iv) the name of the person to whom the repayment is made.
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(2) A moneylender shall retain a record kept under subsection (1) for a period of not less than 5 years after the final repayment instalment under the agreement.
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(3) A moneylender or a person acting on his behalf shall not reveal to any person other than to the borrower concerned or a person authorised by the borrower, a court, the Minister, the Director or any authorised officer any of the contents of records maintained by him under this section.
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