Who has been in the business of lending money on interest to farmers in Tamil speaking
areas?
Answers
Answer:Published in the Fort St. George Gazette, Rules Supplement to Part I, dated 29th July 1959 (page 501).
G.O. Ms. No. 2823. - In exercise of the powers conferred by section 22 of the Tamil Money-lenders Act, 1957 (Tamil Nadu Act XXVI of 1957), the Governor of Nadu hereby makes the following rules, the same having been previously published as required by sub-section (1) of the said section.
1. Short title. - These rules may be called the Tamil Nadu Money-lenders Rules, 1959.
2. Definitions. - In these rules, -
(a) "Act" means the Tamil Nadu Money-lenders Act, 1957 (Tamil Nadu Act XXVI of 1957);
(b) "Form" means a Form appended to these rules;
(c) "Inspector" means an Inspector appointed under section 10;
(d) "section" means a section of the Act.
3. Application for licence. - Every application for a money-lenders licence shall be made to the Tahsildar of the Taluk or Independent Deputy Tahsildar, as the case may be, having jurisdiction over the place of business of the money-lender. Such application shall be in Form-A.
4. Form of licence and fees therefor and for renewal. - (1) Every licence granted under sub-section (2) of section 4 shall be in Form-B and shall be subject to the conditions specified therein.
(2) For every application for a licence or renewal thereof, a fee of Rs. 100 (Rupees one hundred only) shall be paid into a Government treasury and the treasury receipt thereof shall accompany the application.
(3) Notwithstanding anything contained in sub-rule (2), for a period of three months commencing on the date of coming into force of the Act in any area, a fee of Rs. 10 (Rupees ten only) shall be payable for every application for a licence in that area.
4A. Issue of duplicate licences. - (1) If a licence is lost or destroyed or spoiled, the money-lender shall forthwith report the matter to the authority by whom the licence was granted or last renewed and shall apply to him with a treasury receipt for the payment of a fee of Rs. 30 (Rupees thirty only) for the issue of a duplicate licence.
(2) On receipt of an application with the treasury receipt referred to in sub-rule (1), the authority shall furnish the applicant with a duplicate copy of the licence duly stamped "duplicate" in red ink.
4B. Refund of fee in certain circumstances. - (1) Where the licensing authority refuses to grant a licence under sub-section (3) of section 4, the application for the refund of licence fee shall be made within a period of two months from the date of receipt of the order refusing to grant licence or from the date of receipt of order on appeal to the Tahsildar of the taluk or the Independent Deputy Tahsildar, as the case may be, having jurisdiction over the place of business of the money-lender.
(2) If after obtaining a licence, the licensee does not carry on the money-lending business even on a single day during the period of the licence, the licensee may, within a period of two months from the date of expiry of the licence, apply to the licensing authority for the refund of the fee paid by him. On receipt of the application, the licensing authority shall verify its correctness and may order the refund of the fee paid.
5. Charges allowed to money-lenders. - A money-lender may, in addition to the cost of revenue stamp, demand and take from the debtor a sum not exceeding 25 paise on loans upto and inclusive of Rs. 250 and 50 paise on loans above Rs. 250 for incidental expenses connected with the advancement of such loan.
6. Form of account book. - The account specified in section 9(l)(a) shall be in Form-C.
7. Form of receipt. - The receipt to be issued by the money-lender to the debtor or his agent for every sum paid by him shall be in Form-D.
8. Statement of account. - The statement of account to be furnished by the money-lender under section 9(l)(c) shall be in Form-E.
Explanation: