Section 21: Restrictions on advertisements

21. Restrictions on advertisements (1) No person shall knowingly send or deliver or cause to be sent or delivered to any person except in response to his written request any circular or other document advertising the name, address or telephone number of a moneylender, or containing an invitation to— (a) borrow money from a moneylender; (b) enter into any transaction involving the borrowing of money from a moneylender; (c) apply to any place in order to obtain information or advice as to borrowing money from a moneylender. (2) Subject to subsection (2A), 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 mentioned in subsection (1). (2A) An advertisement by or on behalf of a moneylender licensed under this Act may be published in any newspaper or other printed paper issued periodically for public circulation or by means of any poster or placard exhibited at an authorised address of the moneylender if it contains no particulars other than— (a) the name under which the moneylender is authorised by the certificate granted under section 6 to carry on business; (b) the authorised address at which the moneylender carries on business, the telegraphic address and the telephone number; (c) the address at which he formerly carried on business; (d) a statement that he lends money with or without security; [Issue 1] M66 – 10 Revised Laws of Mauritius (e) a statement of the highest and lowest sums that he is prepared to lend; and (f) a statement of the date on which the business carried on by him was first established. (3) 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 Fifth Schedule. (4) Any person who contravenes this section shall commit an offence and shall, on conviction, be liable to a fine not exceeding 5,000 rupees and to imprisonment for a term not exceeding 12 months. (5) Where it is shown that a moneylending transaction was caused by a contravention of this section, the transaction shall be illegal, unless the moneylender proves that the contravention occurred without his consent or connivance. [S. 21 amended by Act 25 of 2000.]