(1) Where proceedings are taken in any court by any person for the recovery of any money lent before or after the date of the coming into force of this Act, or the enforcement of any agreement or security made or taken before or after the date of the coming into force of this Act, in respect of money lent, and there is evidence which satisfies the court that the interest charged in respect of the sum actually lent is excessive, or that the amounts charged for expenses, inquiries, fines, bonus, premium, renewals, or any other charges, are excessive, or that, in any case, the transaction is harsh and unconscionable, the court may re-open the transaction, and take an account between the lender and the person sued, and may, despite any statement or settlement of account or any agreement purporting to close previous dealings and create a new obligation, re-open any account already taken between them, and relieve the person sued from payment of any sum in excess of the sum adjudged by the court to be fairly chargeable and due in respect of such principal, interest and charges, as the court, having regard to the risk and all the circumstances, may adjudge to be reasonable; and if any such excess has been paid, or allowed in account, by the debtor, may order the creditor to repay it, and may set aside, either wholly or in part, or revise, or alter, any security given or agreement made in respect of money lent, and if the lender has parted with the security may order him or her to indemnify the borrower or other person sued.