THE ASSAM MONEY LENDERS' (AMENDMENT) ACT, 1943

{
    "id": 209,
    "slug": "assam-money-lenders-amendment-act-1943",
    "title": "THE ASSAM MONEY LENDERS' (AMENDMENT) ACT, 1943",
    "short_title": "The Assam Money Lenders' (Amendment) Act, 1943",
    "act_number": "VI of 1943",
    "act_year": 1943,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "amended",
    "enactment_date": "1943-06-25",
    "description": "The Assam Money Lenders' (Amendment) Act, 1943",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "An ACT",
            "chapter": null,
            "content": "An Act to amend the Assam Money Lenders Act, 1934.\n\nWhereas it is expedient to make better provision for the safety of debtors by amending the existing Act:\n\nIt is hereby enacted as follows :-",
            "footnote": "Assam Act IV of 1934.",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "1",
            "title": "Section 1(1)",
            "chapter": null,
            "content": "This Act may be called the Assam Money Lenders' (Amendment) Act, 1943.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "1",
            "title": "Section 1(2)",
            "chapter": null,
            "content": "It shall come into force at once and it shall apply to pending suits and appeals.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 20
        },
        {
            "number": "1",
            "title": "Section 1(3)",
            "chapter": null,
            "content": "It extends to the whole of Assam in which the Assam Money Lenders' Act, 1934, is in force.",
            "footnote": "Assam Act IV of 1934.",
            "is_definition": false,
            "sort_order": 30
        },
        {
            "number": "1",
            "title": "Section 1(4)",
            "chapter": null,
            "content": "That the provisions of the Transfer of Property Act, 1882, the Indian Contract Act, 1872, the Indian Registration Act, 1908, and the Civil Procedure Code, 1908, shall, to the extent necessary to give effect to the provisions of this Act, be deemed to have been repealed or modified.",
            "footnote": "Act IV of 1882.\nAct IX of 1872.\nAct XVI of 1908, and\nAct V of 1908.",
            "is_definition": false,
            "sort_order": 40
        },
        {
            "number": "2",
            "title": "Section 2(1)",
            "chapter": null,
            "content": "No loan made to or debentures or other securities of any description issued by Government, a public body, a Bank, or a Company.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 50
        },
        {
            "number": "7",
            "title": "Explanation",
            "chapter": null,
            "content": "The term 'aggregate' means and includes the amount already paid amicably or otherwise.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 60
        },
        {
            "number": "2",
            "title": "Section 2(2)",
            "chapter": null,
            "content": "Notwithstanding anything contained in sub-section (1), a usufructuary mortgage, in cases where the loan did not exceed five hundred rupees in principal, shall, unless discharged previously, be deemed to stand discharged :-",
            "footnote": "",
            "is_definition": false,
            "sort_order": 70
        },
        {
            "number": "2",
            "title": "Section 2(2)(i)",
            "chapter": null,
            "content": "(i) if the mortgage was executed before the commencement of the Assam Money Lenders' (Amendment) Act, 1943, after the expiration of twelve years from the date of such execution, or",
            "footnote": "",
            "is_definition": false,
            "sort_order": 80
        },
        {
            "number": "2",
            "title": "Section 2(2)(ii)",
            "chapter": null,
            "content": "(ii) if the mortgage was executed after the commencement of that Act, after the expiration of nine years from the date of such execution.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 90
        },
        {
            "number": "2",
            "title": "Section 2(3)",
            "chapter": null,
            "content": "In the case of a bond or any other instrument executed for past liabilities the original sum actually advanced shall be considered as the principal of the loan for the purpose of sub-section (1).",
            "footnote": "",
            "is_definition": false,
            "sort_order": 100
        },
        {
            "number": "2",
            "title": "Section 2(4)",
            "chapter": null,
            "content": "The heirs, successors or assigns of a mortgagor shall have the same rights under this section as the original mortgagor would have had, and if by any instrument executed subsequently to the original instrument any property has been substituted for the property mortgaged by the original instrument, the provisions of this section shall apply to the property so substituted as if it were the property mortgaged by the original instrument.\"",
            "footnote": "",
            "is_definition": false,
            "sort_order": 110
        }
    ],
    "metadata": {
        "Act ID": "194306",
        "Act Number": "VI of 1943",
        "Enactment Date": "1943-06-25",
        "Act Year": "1943",
        "Short Title": "The Assam Money Lenders' (Amendment) Act, 1943",
        "Department": "Assam Legislature",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:03"
}