BAILII [Home] [Databases] [World Law] [Search] [Feedback]

Northern Irish Legislation

You are here:  BAILII >> Databases >> Northern Irish Legislation >> MONEYLENDERS ACT (NORTHERN IRELAND) 1933

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 15

Provisions as to appropriation to principal and interest.

15. Where by a contract for the loan of money by a moneylender the interest
charged on the loan is not expressed in terms of a rate, any amount paid or
payable to the moneylender under the contract (other than simple interest
charged in accordance with the proviso to section seven of this Act) shall be
appropriated to principal and interest in the proportion that the principal
bears to the total amount of the interest, and the rate per cent. per annum
represented by the interest charged as calculated in accordance with the
provisions of the First Schedule to this Act shall be deemed to be the rate of
interest charged on the loan.


[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

© 1933 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/mai1933318/s15.html