Levy of inspection fee

(1) An inspection fee shall, in addition to the licence fee leviable under section 5, be levied on a money-lender applying for a renewal of a licence at the rate of one per cent of the maximum capital utilized by him during the period of licence sought to be renewed or Rs. 5,00,000 whichever is less. (2) An application for renewal of a licence shall not be allowed unless the inspection fee under sub-section (1) is paid. Explanation.- For the purposes of this section, "maximum capital" means the highest total amount of the capital sum which may remain invested in the money-lending business on any day during the period of licence.