Completing Form 9 Supporting Statement for a Company Money Lenders Licence Renewal

Overview

Companies renewing a Hong Kong money lenders licence must file Form 9, the supporting statement for company renewal, with the Registrar of Money Lenders. This form is the primary way a corporate applicant proves it still meets the licensing criteria under the Money Lenders Ordinance. The document demands detailed updates on the company's structure, directors, shareholders, financial standing and business experience. These details help the licensing authority assess whether the applicant remains fit and proper to hold a licence.

The money lenders form 9 is for renewals only. Form 3 is for a new licence application and Form 5 supports that initial application. Form 9 is specifically for the renewal stage. It requires the company to reaffirm its compliance with the Money Lenders Ordinance and disclose any changes since the licence was last granted or renewed.

What Is the Form 9 Money Lenders Supporting Statement?

The form 9 money lenders supporting statement is the statutory declaration that accompanies a company's application for renewal of its money lender licence. It is filed with the Licensing Court through the Registrar of Money Lenders. The form requires a comprehensive update on the company's affairs, covering its corporate structure, the fitness of its directors and shareholders, its financial standing, and its business experience over the licence period.

Form 9 addresses the corporate entity specifically, unlike supporting statements for individual or partnership renewals. It asks for information about the company itself, those who control it, and those who manage its day-to-day operations. A director or the company secretary must sign the statement, which must be sworn before a person authorised to administer oaths, such as a solicitor or a commissioner for oaths.

Hong Kong Money Lenders Form 9: Who Must File It

Every company holding a Hong Kong money lenders licence must submit Hong Kong money lenders form 9 when applying for renewal. The form applies to all corporate licensees, regardless of business size or lending activities. The Licensing Court will not consider a renewal application without a properly completed Form 9 and its required supporting documents.

The filing obligation arises each time the licence is due for renewal, which is generally every 12 months. The company should submit the form well before the licence expiry date. The Licensing Court requires time to review the supporting statement and verify the information. A late or incomplete submission may result in the licence not being renewed on time, which could interrupt the company's lending operations.

Supporting Statement for Company Renewal: Information Required

The supporting statement for company renewal requires several categories of information. These include:

• Corporate structure: The company must confirm its current directors, shareholders and company secretary. Any changes since the last renewal, such as a director's appointment or resignation, must be disclosed. The form also asks for the company's registered address and principal place of business.
• Financial standing: The company must provide details of its net worth, including its most recent audited accounts or a statement of assets and liabilities. The Licensing Court uses this to assess whether the company has sufficient financial resources to operate as a money lender without posing a risk to borrowers.
• Directors' fit and proper status: Each director must be declared fit and proper. The form asks whether any director is an undischarged bankrupt, has been convicted of a criminal offence, or has been involved in any proceeding under the Companies Ordinance or the Money Lenders Ordinance. A director who is an undischarged bankrupt is generally disqualified from holding the position unless the court grants an exemption.
• Business experience: The company must describe its business experience in money lending or related financial services. This helps the Licensing Court assess whether the company has the competence to operate a licensed money lending business.
• Compliance history: The form requires the company to state whether it has been the subject of any complaint, investigation or enforcement action during the licence period. It must also confirm compliance with the Money Lenders Ordinance and any licence conditions.

Form 9 Corporate Money Lender Renewal: Supporting Documents

When filing form 9 corporate money lender renewal, the company must submit supporting documents with the form. These typically include:

• A certified copy of the company's annual return filed with the Companies Registry, confirming the current directors and shareholders.
• The company's most recent audited financial statements, unless the company qualifies for an audit exemption under the Companies Ordinance.
• A business registration certificate issued by the Inland Revenue Department.
• Any other documents the Licensing Court may require to verify the information in the supporting statement.

The company should also attach a copy of its current money lenders licence. This helps the court verify the licence number and any conditions that currently apply.

Directors' Fit and Proper: Key Declarations

A central purpose of Form 9 is to demonstrate that directors continue to meet the fit and proper criteria. The form asks specific questions about each director's background:

• Whether the director is an undischarged bankrupt or has been bankrupt in the past.
• Whether the director has been convicted of any offence involving dishonesty, fraud or money lending.
• Whether the director has been involved in the management of a company that has gone into liquidation or receivership.
• Whether the director has been refused a licence or had a licence revoked under the Money Lenders Ordinance.

If any director answers "yes" to any of these questions, the company must provide full details. The Licensing Court will then consider whether that director is still fit to hold a position in a licensed money lending business.

Financial Standing and Business Experience

The company must provide evidence of its financial standing, including its net worth. The Licensing Court expects a company to maintain sufficient capital to support its lending activities. A company with a negative net worth or one that cannot demonstrate adequate financial resources may be refused renewal.

The business experience section of Form 9 asks the company to describe its operations over the past licence period. The company should provide information on the volume of loans made, the types of borrowers served, and any changes to its lending practices. This section allows the court to assess whether the company has operated within the law and in a manner consistent with its licence conditions.

Changes in Corporate Structure

If the company has undergone any changes in its corporate structure since the last renewal, these must be disclosed in Form 9. This includes changes to shareholding, the appointment or resignation of directors, a change of company secretary, or a change of registered address. The company should also disclose any amendments to its memorandum and articles of association that affect its lending activities.

The Licensing Court views significant changes in control or management as a reason to reassess the company's fitness. A change of majority shareholder, for example, may require the new shareholders to provide their own fit and proper declarations.

Filing the Form with the Licensing Court

The completed Form 9, supporting documents and the prescribed fee must be submitted to the Registrar of Money Lenders. The Registrar forwards the application to the Licensing Court, which will consider the renewal. The court may grant the renewal unconditionally, impose new conditions, or refuse the application.

Applicants should note that the Money Lenders Ordinance (Cap. 163) governs the licensing regime. The Licensing Court looks at the totality of the information in Form 9 to decide whether the company remains a suitable person to hold a money lenders licence.

Conclusion

Form 9 is the central document for a company renewing its Hong Kong money lenders licence. It requires the company to update the Licensing Court on its directors, shareholders, financial standing and business experience. The supporting statement must be completed honestly and accurately. Any false declaration may lead to the refusal of the renewal or, if discovered later, the revocation of the licence. Companies should prepare the form carefully and ensure all required supporting documents are attached before filing.