Notice and information to be given on assignment of loan

(1) Where a loan advanced, whether before or after the appointed day, or any interest of such loan or the benefit of any agreement made or security taken in respect of such loan of interest is assigned to any assignee, the assignor, whether he is the Money-Lender by whom the money was lent or any person to whom the debt has been previously assigned shall, before the assignment is made,- (a) give the assignee a notice in writing that the loan, interest agreement or security is affected by the operation of this Act; (b) supply to the assignee all information necessary to enable him to comply with the provisions of this Act; and (c) give to the debtor a notice in writing of the assignment, supplying the name and address of the assignee and send or cause to be sent a copy thereof to the Registrar. (2) Any person acting in contravention of the provisions of sub-section (1) shall be liable to indemnify any other person who is prejudiced by such contravention.