Microfinance Bill, 2012 H.B. 2, 2012 (2) A microfinancier whose registration has been cancelled shall within seven days of being notified of the cancellation return its registration certificate to the Registrar. (3) Anyone who contravenes subsection (2) shall be guilty of an offence and shall be liable to a fine not exceeding level twelve. PART IV CONDUCT OF MICROFINANCIERS GENERALLY 15 Information to be displayed or published by microfinanciers (1) Every microfinancier shall⎯ (a) display conspicuously at the entrance to every place where the microfinancier conducts microfinance business an authenticated copy of its registration certificate; and (b) display, in easily legible letters and in the English language on every letter, advertisement or other communication published or issued by or on behalf of the microfinancier its name and a statement of the fact that it is registered as a microfinancier. (2) Every microfinancier shall display the following information conspicuously, in easily legible letters, in every premises where it conducts a microfinance business⎯ (a) the services offered by the microfinancier; and (b) the monthly and annual rates of interest it charges on loans and advances; and (c) details of all charges, other than interest, which it imposes on loans and advances; and (d) in the case of a corporate microfinancier, the names of the directors and chief executive officer and the name of the person in charge of the premises where the information is displayed; and (e) such information relating to the rights and responsibilities of borrowers and depositors as may be prescribed. (3) The information referred to in subsection (2) shall be in the English language and in every other language that is spoken by a substantial number of borrowers or potential borrowers at the premises where the information is displayed. (4) A microfinancier who or which contravenes subsection (1), (2) or (3) is guilty of an offence and, in the case of⎯ (a) an individual microfinancier, is liable to a fine not exceeding level five or imprisonment for a period not exceeding six months or to both such fine and such imprisonment; (b) a corporate microfinancier⎯ (i) is liable to a fine not exceeding level five; and (ii) each one of its directors or partners, as the case may be, is liable to a fine not exceeding level five or imprisonment for a period not exceeding six months or to both such fine and such imprisonment. - 14 -