This document reveals a critical examination of the Moneylending Act concerning the Jamaica Redevelopment Foundation (JRF). It asserts that JRF is not exempt from the Act under Section 13 , despite a false assumption to the contrary. A significant conflict arises from Section 14, which permits the Minister to grant exemptions for individual loans if satisfied it’s in the public interest. The submission argues that JRF required individual exemptions for each loan or contract, which it failed to obtain, leading to a “misinterpretation of the Act to say that they have blanket exemption”.

Crucially, the document highlights a lack of evidence that JRF complied with Section 8(2) of the Moneylending Act, which mandates providing borrowers with detailed written notes of their contracts. This alleged non-compliance, coupled with the fact that JRF acquired properties worth billions for a mere US$23 million, suggests a profound disparity. The submission implicitly challenges the narrative of “bad debtors,” hinting that the legal ambiguities and alleged procedural shortcuts may have facilitated questionable transfers of property, effectively allowing for the acquisition of assets by politicians and their associates. This critical analysis urges a thorough review to understand the full implications of these actions.