The Punjab Registration of Money Lenders Act, 1938

{
    "id": 27160,
    "slug": "punjab-registration-of-money-lenders-act-1938",
    "title": "The Punjab Registration of Money Lenders Act, 1938",
    "short_title": "The Punjab Registration of Money Lenders Act, 1938",
    "act_number": "Punjab Act 3 of 1938",
    "act_year": 1938,
    "act_type": "STATE",
    "location": "Delhi",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "The Punjab Registration of Money Lenders Act, 1938",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "1. Short title, extent and commencement.",
            "chapter": null,
            "content": "Object & Reasons 6\nStatement of Objects and Reasons",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "2. Definitions.",
            "chapter": null,
            "content": "(1) \"Bank\" means a company carrying on the business of banking and registered under any of the enactments relating to companies for the time being in force in the United Kingdom or in any of the Colonies or Dependencies thereof or in any Part A State or Part C State or incorporated by an Act of Parliament of the United Kingdom or by Royal Charter of Letters Patent or by any Act of Parliament.\n(2) \"Collector\" means a Collector of the District or such other officer not below the rank of Assistant Collector first grade as may be specially empowered by the State Government to discharge the functions of a Collector for the purpose of this Act.\n(3) \"Commissioner\" means the Commissioner of the Division in which a money-lender is registered.\n(4) \"Company\" means a Company registered under any of the enactments relating to Companies for the time being in force in the United Kingdom or any of the Colonies or Dependencies thereof or in any Part A State or Part C State of incorporated by an Act of Parliament of the United Kingdom or by Royal Charter or Letters Patent and includes Life Insurance Companies to which the Indian Life Insurance Companies Act, 1912, applies.\n(5) \"Co-operative Society\" means a society registered under the provision of Co-operative Societies Act, 1912 (11 of 1912).\n(6) \"Court\" includes a court acting in the exercise of its insolvency jurisdiction.\n(7) \"Interest\" includes the return to be made over and above what was actually lent, whether the same is charged of sought to be recovered specially by way of interest or otherwise.\n(8) \"Loan\" means an advance whether secured or unsecured of money or in kind at interest and shall include any transaction which the court finds to be in substance a loan, but it shall not include-\n(i) an advice in kind more made by a landlord to his tenant for the purpose of husbandry, provided the market value of the return does not exceed the market value of the advance as estimated at the time of advance.\n(ii) a deposit of money or other property in a Government Post Office Bank, or any other Bank, or with a company, or with a Co-operative societies or with any employer as security from his employees;\n(iii) a loan to, or by, or a deposit with any society or association registered under the Societies Registration Act, 1860, or under any other enactment;\n(iv) a loan advanced by or to the Central or any State Government or by or to any local body under the authority of the Central or any State Government;\n(v) a loan advanced by a bank, a co-operative society or a company whose accounts are subject to audit by a certificated auditor under the Indian Companies Act, 1913;\n(vi) a loan advanced by a trader to a trader, in the regular course of business, in accordance with trade usage;\n(vii) an advance made on the basis of a negotiable instrument as defined in the Negotiable Instruments Act, 1881 other than a promissory note.\n(9) \"Money-lender\" means a person, or a firm carrying on the business of advancing loans as defined in this Act, and shall include the legal representatives and the successors-in-interest, whether by inheritance; assignment or otherwise, of such person or firm; provided that nothing in this definition shall apply to-\n(a) a person who is the legal representative or is by inheritance the successor-in-interest of the estate of a deceased money-lender together with all his rights and liabilities; provided that such person only-\n(i) winds up the estate of such money-lender;\n(ii) realises outstanding loans;\n(iii) does not renew any existing loan, nor advance any fresh loan;\n(b) a bona fide assignment by a money-lender of a single, loan to any one other than the wife or husband of such assignor, as the case may be, or any person, who is descended from a common grant-father of the assignor.\n(10) \"Prescribed\" means prescribed by rules made under this Act.\n(11) \"Trader\" means a person who in the regular course of business; buys and sells goods or other property, whether moveable or immoveable and shall include-\na wholesale or retail merchant;\na commission agent;\na broker;\na manufacturer;\na contractor; a factory owner;",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "3. Suits and applications by money-lenders barred, unless moneylender is registered and licensed.",
            "chapter": null,
            "content": "(a) at the time of the institution of the suit or presentation of the application for execution; or\n(b) at the time of decreeing the suit or deciding the application for execution-\n(i) is registered; and\n(ii) holds a valid licence, in such form and manner as may be prescribed; or\n(iii) holds a certificate from a Commissioner granted under Section 11, specifying the loan in respect of which the suit is instituted, of the decree in respect of which the application for execution is presented; or\n(iv) if he is not already a registered and licensed money-lender, a satisfies the Court that he has applied to the Collector to be registered and licensed and that such application is pending; provided that in such a case, the suit or application shall not be finally disposed of until the application of the money-lender for registration and grant of licence pending before the Collector is finally disposed of.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        },
        {
            "number": "4",
            "title": "4. Registration of money-lenders.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 3
        },
        {
            "number": "5",
            "title": "5. Licensing of money-lenders.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 4
        },
        {
            "number": "6",
            "title": "6. Where licence may be cancelled.",
            "chapter": null,
            "content": "(i) has been held by a Court to have contravened the provisions of Section 3 of the Punjab Regulation of Accounts Act (1 of 1930), in more than two suits;\n(ii) has had his suit dismissed, in whole or in part, under Section 37 of the Punjab Relief of Indebtedness Act (VII of 1934):\n(iii) has had shit dismissed with a finding that he has made, dishonestly or fraudulently, a material alteration in any document relating to a loan;\n(iv) has had his suit dismissed with a finding that it is fraudulent;\n(v) has been founded by a Court to have charged higher rates of interest than those prescribed under Section 5 of the Punjab Relief of Indebtedness Act (VII of 1934) in more than one suit;\n(vi) has been found guilty by a Court of forgery or cheating in respect of a money transaction:",
            "footnote": "",
            "is_definition": false,
            "sort_order": 5
        },
        {
            "number": "7",
            "title": "7. When Collector may act.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 6
        },
        {
            "number": "8",
            "title": "8. Effect of cancellation of licence.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 7
        },
        {
            "number": "9",
            "title": "9. Saving.",
            "chapter": null,
            "content": "(a) at the time of the commencement of this Act; or\n(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 given any such finding as would render him liable to have his licence cancelled under the provisions of Section 6 of this Act.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 8
        },
        {
            "number": "10",
            "title": "10. Further registration and licensing of money-lender after expiry of period of which licence was cancelled.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 9
        },
        {
            "number": "11",
            "title": "11. Appeals, reviews and certificates.",
            "chapter": null,
            "content": "12.\n13.\n(a) the place where a money-lender shall apply for registration for obtaining a licence, the district or districts in which a money-lender who operates in more than one district shall be required to register, and the area in which a licence shall be valid;\n(b) the scale of fees payable for the issue or renewal of a licence of a money-lender.\n(c) the form of a licence; and the conditions under which a licence shall be issued; and ;\n(d) the particulars which a money-lender shall supply at the time of being registered.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        }
    ],
    "metadata": {
        "Act ID": "dl158",
        "Act Number": "Punjab Act 3 of 1938",
        "Enactment Date": "",
        "Act Year": "1938",
        "Short Title": "The Punjab Registration of Money Lenders Act, 1938",
        "Type": "UNION_TERRITORY",
        "Location": "Delhi"
    },
    "updated_at": "2026-09-29 21:54:04"
}