Moneylenders Act, 1933

Restriction on moneylending advertisements, and prohibition of use of canvassers.

10.—(1) Subject to the provisions of the next following sub-section, no person shall knowingly send or deliver or cause to be sent or delivered to any person in Saorstát Eireann except in response to his written request any circular or other document advertising particulars of the name, address or telephone number of a moneylender, or containing an invitation—

(a) to borrow money from a moneylender;

(b) to enter into any transaction involving the borrowing of money from a moneylender;

(c) to apply to any place with a view to obtaining information or advice as to borrowing any money from a moneylender.

(2) Notwithstanding anything in the last foregoing sub-section a business card in conformity with the requirements of the last foregoing section may be sent out by post if it contains no addition to the particulars necessary to comply with the said requirements, except any of the following particulars, that is to say, any authorised address at which he carries on business as a moneylender and the telegraphic address and telephone number thereof any address at which he formerly carried on business, a statement that he lends money with or without security, and of the highest and lowest sums that he is prepared to lend, and a statement of the date on which the business carried on by him was first established.

(3) Subject to the provisions of the next following sub-section, no person shall publish or cause to be published in any newspaper or other printed paper issued periodically for public circulation, or by means of any poster or placard, an advertisement advertising any such particulars, or containing any such invitation, as are or is mentioned in sub-section (1) of this section.

(4) Notwithstanding anything in the last foregoing sub-section an advertisement in conformity with the requirements of the last foregoing section may be published by or on behalf of a moneylender in any newspaper or in any such paper as aforesaid or by means of a poster or placard exhibited at any authorised address of the moneylender, if it contains no addition to the particulars necessary to comply with the said requirements, except any of the following particulars, that is to say, any authorised address at which he carries on business as a moneylender and the telegraphic address and telephone number thereof, any address at which he formerly carried on business, a statement that he lends money with or without security, and of the highest and lowest sums that he is prepared to lend, and a statement of the date on which the business carried on by him was first established.

(5) No moneylender or any person on his behalf shall employ any agent or canvasser for the purpose of inviting any person to borrow money or to enter into any transaction involving the borrowing of money from a moneylender, and no person shall act as such agent or canvasser, or demand or receive directly or indirectly any sum or other valuable consideration by way of commission or otherwise for introducing or undertaking to introduce to a moneylender any person desiring to borrow money.

(6) Where any document issued or published by or on behalf of a moneylender purports to indicate the terms of interest upon which he is willing to make loans or any particular loan, the document shall either express the interest proposed to be charged in terms of a rate per cent, per annum or show the rate per cent. per annum represented by the interest proposed to be charged as calculated in accordance with the provisions of the First Schedule to this Act.

(7) Any person acting in contravention of any of the provisions of this section shall be guilty of an offence under this section and shall be liable on summary conviction thereof, in the case of an individual, to a fine not exceeding twenty pounds or to imprisonment for any term not exceeding one month or to both such fine and imprisonment, and, in the case of a company, to a fine not exceeding twenty pounds.

(8) Where it is shown that a moneylending transaction was brought about by a contravention of any of the provisions of this section, the transaction shall, notwithstanding that the moneylender was duly licensed under this Act, be illegal, unless the moneylender proves that the contravention occurred without his consent or connivance.