Money-Lenders Act
ZambiaAct of Parliament
Still in force, for now.Bfsa 2026 has been passed to replace it, but it only starts on a date the Minister sets by statutory instrument. Check whether that has happened before relying on either.
In force, and amended by 1 amendment Act. Check the amendments before relying on the wording of a section.
The Money-Lenders Act is an Act of the Parliament of Zambia. It contains 21 sections. Read its sections below, or ask Levy any question about the Money-Lenders Act and get an answer grounded in the Act with citations.
Sections of the Money-Lenders Act
- S. 1This Act may be cited as the Money-lenders Act. Short title
- S. 2I nterpretation
- S. 3L icences to be taken out by money-lenders
- S. 4C ertificate required for grant of money-lender's licence
- S. 5S uspension and forfeiture of money-lender's certificates
- S. 6N ames to be stated on documents issued by money-lenders
- S. 7R estrictions on money-lending advertisements
- S. 8P enalties for false statements and representations
- S. 9(1) No contract for the repayment by a borrower of money lent to him or to any Form of
- S. 10Subject as hereinafter provided, any contract made after the commencement Prohibition of
- S. 11(1) In respect of every contract for the repayment of money lent by a Obligation of
- S. 12P rovisions as to bankruptcy proceedings for money-lender's loans
- S. 13A ppropriation of principal and interest
- S. 14R eopening of transactions of money-lenders
- S. 15I nterest at a rate exceeding 48 per centum to be deemed harsh and
- S. 16C ourts to which proceedings on money-lending transactions are to be taken
- S. 17Any agreement between a money-lender and a borrower or intending borrower Prohibition of charge
- S. 18L imitation of time for proceedings in respect of money lent by money-lenders
- S. 19(1) The provisions of sections nine, seventeen and eighteen shall not apply in Special provisions as
- S. 20(1) Where any debt in respect of money lent by a money-lender whether before Notice and information
- S. 21A pplication of Act as respects assignees