contractor, — Pb. Act IIl REGISTRATION OF MONEY-LENDERS |7

2 contractor, a factory owner, but shall not include OWn agricultural p not include Iy b . a person who sells 07,5 icultural or produce or cattle, O oo Iy b a person who sells 07,5 or roduce or cattle, O oo ut shall not incl OWn agricultural agricultura] pro Iy b a person who sells 07,5 or produce or cattle, O oo or cattle for his 0% Wn agricultural produce or cattle, O agricultura] producg or cattle for his 0% —— e T RPN Notwithstanding anything contained in any other S (a) at the time of the institution of the suit or pre-sentation of the application for execution ; or at the time of the institution of the suit or pr sentation of the application for execution ; or (b) at the time of decreeing the suit or deciding the application for execution— at the time of decreeing the the application for execution— (i) is registered ; and (i) holds a valid licence, in such form and man-ner as may be prescribed ; or holds a valid licence, in such fo ner as may be prescribed ; or (i) holds a certificate from a Commissioner granted under section 11, specifying the holds a certificate from granted under section 11, loan in respect of which th Commissio specifying uit is insti er the tegranted under section 11, specifying the loan in respect of which the suit is institute-ed, or the decree in respect of which the aploan in respect of which the suit is institute-ed, or the decree in respect of which the ap-plication for execution is presented ; or ed, or the decree in respect of which the plication for execution is presented ; or (iv) if he is not already a registered and licensed money-lender, satisfies the Court that he has if he is not already a registered and licensed money-lender, satisfies the Court that he has applied to the Collector to be registered and money-lender, satisfies the Court that he has applied to the Collector to be registered and nsed and that such application is pendapplied to the Collector to be registered and licensed and that such application is pend- : provided that in such a case, the suit licensed and that such application is pend-ing : provided that in such a case, the suit or application shall not be finally disposed of ing : provided that in such a case, the suit or application shall not be finally disposed of e application of the money-lender for or application shall not be finally disposed of until the application of the money-lender for registration and grant of licence pending until the application of the registration and grant of ore the Collector is fina oney-lender for licence pending posed of. registration and grant of licence p before the Collector is finally disposed of. Every money-lender may apply for registration of Every money-lender may apply to the Collector Explanation.—When an application for the renewal icence has bzen received from a licensed moneyExplanation.—When an application for the r of a licence has bzen received from a licensed money-lender before the expiry of his licence, the existing of a licence has b lender before the n received from a lic expiry of his licence, the existing uits and applica- tions by moneyuits and applica- tions by money- lenders barred tions b lenders unless oney- barred eylenders barr unless moneylender is register ed and licensed lender is register ed and licensed Registration of money-lenders. Licensin, money-l of rs. icensin, of money-lenders. vme; Collestor licence shall be decmed to continue in force until orders on the application have bec1 issued. licence shall be decmed to continue on the application have bec1 issued. Where may b licence ""°""° . no A licence may be cancelled by the Collectpr and be 1renewed for such period as may be specified by Where licence . A licence may be cancelled by the Collectpr and may be °""°""°"'sha]16not be 1renewed for such period as may be specified by nt of this Act, a money'sha]16not be 1renewed for such period as may be specified by him, if after the commencement of this Act, a money- lender commits an act or is guilty of an omission with him, if after the commencement of this Act, a mone lender commits an act or is guilty of an omission with reference to which he— (i) has been held by a Court to have contravened the provisions of section 3 of the Punjab Regu-! as been held by a Court to have contravened the provisions of section 3 of the Punjab Regu-!u lation of Accounts Act, in more than two suits ; the provisions of section 3 of the Punjab Regu-! lation of Accounts Act, in more than two suits ; (i) has had his suit dismissed, in whole or in part, under section 37 of the Punjab Relief of has had his suit dismissed, in w under section 37 of the Punjab Relief of i Indebtedness Act; I (iii) has had his suit dismissed with a finding that he has made, dishonestly or fraudulently, a has had his suit dismissed with a finding that he has made, dishonestly or fraudulently, a material alteration in any document relating to a loan ; (iv) has had his suit dismissed with a finding that it is fraudulent ; has had his suit it is fraudulent ; (v) has been found by a Court higher rates of interest than to have charged those prescribed been found by a Court to have charged higher rates of interest than those prescribed under section 5 of the Punjab Relief of higher rates of interest than those prescribed under section 5 of the Punjab Relief of Indebt- v edness Act in more than one suit ; 193 under section 5 of the Punjab Relie edness Act in more than one suit ; v 193 (v) has been found guilty by a Court of forgery or cheating in respect of a money transaction : has been found guilty by a Court of forgery cheating in respect of a money transaction : Provided that the Collector shall not cancel a licence the prescribed period of appeal, revisio at the Collector shall not cancel a licence until the prescribed period of appeal, revision or review. as the case may be, has expired ; or in case of appeal reuntil the prescribed period of appeal, revision or review. as the case may be, has expired ; or in case of appeal re- vision or review, the appeal, revision or review ha be, has expired ; or in case of appeal re- vision or review, the appeal, revision or review has l')een finally decided. vision or review, finally decided. (1) The Collector may take proceedings suo motu i Provided that no licence shall be cancelled without ng the money-lender a notice in such form as may be . Provided that no licence shall be cancelled without giving the money-lender a notice in such form as may be prescribed. giving the prescribed. F¥ tio (2) for The Collector may during the period of limita- n appeal, either of his own motion or on the F¥ (2) The Collector may during the period of limita-tion for an appeal, either of his own motion or on the of a party interested, review his own order, tion for an appeal, either of his own motion application of a party interested, review his own order, provided no appeal is pending with the Commissioner. application of a party interested, review his own order provided no appeal is pending with the Commissioner. The name of a money-lender whose licence has been cancelled under section 6, shall be struck off the re- gister maintained at the office of the Collector for the been cancelled under section 6, shall be struck off the re- gister maintained at the office of the Collector for the registration of money-lenders : Effect of cancel lation of licence ffect of cancel lation of licence Provided that a licence shall not be deemed to be cancelled nor the name of the money-lender deemed to be struck off the register during the period an appeal or an application for review or an application under section 11 is pending. Nothing in this Act shall apply to suits or applications for execution pending— Saving. (a) at the time of the commencement of this Act ; or t or (b) on the date of the cancellation of the licence of the money-lender, if before his current licence is granted or renewed, a Court has not givea any such finding as would render him liable to have his licence cancelled under the provisions of section 6 of this Act. If the money-lender or the appellant is not present Further ration a regist- licensFurther regist- ration and licensing of lender money- ter exing of money- lender after ex- piry of period for lender after ex- piry of period for which licence piry of which was ca period f licence elled. which licence was cancelled. Appeals, reviews and certificates. ppeals, reviews and certificates. Exemption. Rule-making power. ule-mak power. issi may, in dismissing an appea] specifying the loang issi may, in dismissing ) ghe C;?;n l?élslfi(e);l g.rcertifipatf; specifying ; t(e)ci gfnvlv%ic}}: a suit may be msptu'ged bfy hi an appea] the loang or the ) ghe C;?;n l?élslfi(e);l g.rcertifipatf; ignr a;r;; t(e)ci gfnvlv%ic}}: a suit may be msptu'ged decregs in respect of which an application fying the loang bfy him or the Ior execution ignr a;r;; t(e)ci gfnvlv%ic}}: a suit may be msptu'ged decregs in respect of which an application may be presented. him Ior execution decregs may be presented. hout appealing against 6, may within 30 section an out appealing ction 6, may within 30 days licence, apply to the ction g his may within 30 days licence, apply to the specified in licence, apply to the ¢ nature specified in 4@ A money-lender wit of the Collector under s hout ap ction 4@ A money-lender wit order of the Collector under section Collector's order cancelling his ction order of the Collector under section of the Collector's order cancelling his ommissioner for a certificate of the ¢ of the Collector's order cancelling Commissioner for a certificate of the sub-clause (3). Commissioner sub-clause (3). The Commissioner may, either on his own motion, The [Central Government] may, by notification, . (2) In particular and without prejudice to the generality of the foregoing powers, such rules may specify— (@) the place where a money-lender shall apply for registration for obtaining a licence, the place where a money-lender shall apply for registration for obtaining a licence, the district or districts in which or ope districts tes licence, the d in which a money-lender re than one who or districts in which a money-lender who operates in more than one district shall be re- quired to register, and the a in more than one district shall be re- quired to register, and the area in which a licence shall be valid; to register, an licence shall be valid; (b) the scale of fees payable for the issue or re- newal of a licence of a2 money-lender; scale of fees payable for the issue or newal of a licence of a2 money-lender; (¢) the form of a licence ; and the conditions under which a licence shall be issued; and form of a licence ; and the conditions u which a licence shall be issued; and (d) the particulars which v supply at the time o a mon ey-lender shall being %'egisteredparticulars which v a mon ey-lender supply at the time of being %'egistered-

Section 2