Levy of inspection fee

Levy of inspection fee.—

1. (1) An inspection fee shall, in addition to the licence fee leviable under section 8, be levied and collected from money-lender applying for a renewal of licence at the rate of one per cent of the maximum capital utilised by him during the period of the licence sought to be renewed, or rupees five hundred, whichever is less.
2. (2) In default of payment of an inspection fee leviable under sub-section (1), it shall be recoverable from the defaulter in the same manner as an arrears of land revenue. Explanation:— For the purpose 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 a licence.