Authors: Alessandro Nolet, Frank Cui, Maggie Ng, Richard Woodworth, Bernard Chain, Carl Fernandes

Money Lenders Ordinance: Amendments to the 60/48 Usury Rules

With a view to bringing Hong Kong in line with the approach in other comparable jurisdictions and to mitigate against concerns around potential consumer and social issues caused by excessive interest rates, the Legislative Council has passed a resolution to amend and lower the statutory limits of interest rates as stipulated by the Money Lenders Ordinance (Cap. 163), with effect from 30 December 2022.