Levy of inspection fee.

General201457 sections

Statutory text

(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 1[fifty thousand rupees, whichever is less].
(2) An application for renewal of a licence shall not be allowed unless the inspection fees 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.

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