Under the Money Lenders Ordinance, anyone wishing to carry on business as a money lender must apply to a licensing court for a licence. The ordinance does not apply to AIs under the Banking Ordinance.

Licence applications are, initially, submitted to the Registrar of Companies as Registrar of Money Lenders. A copy is also sent to the Commissioner of Police, who may object to the application. The application is advertised, and any member of the public who has an interest in the matter has the right to object. During the year, 745 applications were received. Altogether, a total of 787 licences were granted or renewed, involving both new applications and outstanding applications brought forward from the previous year. At year-end, there were 748 licensed money lenders, including those whose applications for renewing their licences were being processed.

The ordinance provides penalties for offences such as carrying on an unlicensed money-lending business. It also provides that any loan made by an unlicensed money lender shall not be recoverable by court action. With certain exceptions, any person, whether a licensed money lender or not, who lends or offers to lend money at an interest rate exceeding 60 per cent per annum commits an offence. Any agreement for the repayment of any such loan, or security given in respect of such loan, is unenforceable.