The ASSAM MONEY-LENDERS' (AMENDMENt) . ACT, 1948
### ASSAM ACT XVIii OF i948

          - THE ASSAM MONEY-LENDERS' (AMENDMENt)

. ACT, 1948

(Passed by the Assembly)

**[Received the assent of the Governor on** **the'] 15th**

October~ 1948]

[PLiblished in the _Assam_ _Ga<;ette_ of the 20th October, 1948)
_An_
_Act further_ _to_ _amend ithe_ _Assam Money-Lenders' Act, 1934._

Preamble.

WHEREAS it is expedient further to amend the Assam
Money-Lenders' Act, 1934, hereinafter called the princi-

pal Act, in _the_ manner hereinafter appearing ; Assam Act
#### It is hereby enacted as follows:- IV of 1934.
Short title,
commence- . l. (l) This Act may be called · the Assam Money-

ment and Lenders' (Amendment) Act, 1948.
extent.

(2) It shall come into force on such date as the Pro-

vincial Government may, by notification in · _the_ official
Gazette, appoint.
(3) It extends to the whole of Assam.

Amendment 2. In section 2 of the principal Act,--
of section 2 . (a) for mb-section ( 1), the following shall be substitut-

of Assam ed namely :-
Act IV of '

1934. "'Money-lender' means a person including any Com-

pany or Association or . body of individuals, whether
incorporated or not, who grants a loan ; " . and
_(b)_ for sub-section (3), the following shall be substitut-

ed, namely:               -

" 'Loan' means an advance, whether of money or
in kind, made on condition of repayment with interest
and includes any bond bearing interest executed in respect
of past liabilities and any transaction which is in substance
a loan, but does not include- .

_(a)_ a loan to, or by, or a deposit with, any Society
or Association registered under the Societies Registration

..Act, 1860 or under any other law relating to public, Act XXI of
re 1gwus I[. . ] or c h . bl anta e o b' ~ectsl 1860 ·

_(b)_ a loan advanced before or after the commence-

ment of this Act-
_(i)_ by a Co-operative Life Insurance Society, or a
Co-operative Society ; or
(ii) by a Bank which has _been_ declared to be a
notified Bank under section 2A whether or not such Bank
was declared to be a notified Bank at the time the loan
was advanced."

Insertion of . 3. After se~tion 2 of the principal Act, the follo,wing

aection 2A sectiOn shall be mserted, namely :-
in Assam
Act IV of
1934.

"2A. The Provincial Governm ent may, by notification

Notified
Bank. in the official Gazette, declar:e any Bank to be a notified

Bank fur the purpose of this Act."

[ Price _1 anna_ _or_ _2d._ ]
A.G . P. (L.A.) N6.22f48 ··· 500·- 22 .1-1949.


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