Section Section 2
of the Hire-Purchase Act; 1972 (26 of 1972); (iv) the carrying on of any class o
section 2 of the Hire-Purchase Act; 1972 (26 of 1972); (iv) the carrying on of any class of insurance business; managing, conducting O supervising, as foreman, agent O in any other capacity, of chits or kuries as defined in any law which is for the time being in force in any State, Or any business, which is similar thereto; vi) collecting, for any purpose or under any scheme or arrangement by whatever name called, monies in lump sum or otherwise, by way of subscriptions or by sale of units, Or other instruments or in any other manner and awarding prizes or gifts, whether in cash or king; or disbursing monies in any other way, to persons from whom monies are collected Or to any other person, '[but does not include any institution, which carries 0n as its principal business; agricultural operations; Or (aa) industrial activity; or]
Ins. by Act 21 of 2019, s. 42 the second schedule (W.e.f. 21-2-2019)_ 2. Subs. by Act 51 of 1974,s. 17, for clause (c) (w.e.f: 13-12-1974). 3 Subs: by Act 23 of 1997 2,for certain words (w.e.f: 9-1-1997)_
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b) the purchase, o sale of any goods (other than securities) or the providing of any services; or c) the purchase, construction or sale of immovable property, SO, however, that no portion of the income of the institution is derived from the financing of purchases, constructions or sales of immovable property by other persons;] '[Explanation:-For the purposes of this clause;, ~industrial activity" means any activity specified in sub-clauses (i) to (xviii) of clause (c) f
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