section 4
Grant and refusal of licence
Tamil Nadu Money-lenders Act, 1957Finance195725 sections
Statutory text
- (1) Every application for a money-lender's licence shall be in writing and shall be made to the licensing authority prescribed under this Act : Provided that a person under the age of eighteen years shall be eligible to apply for a licence only through a guardian : Provided further that if any person acting as a guardian on behalf of a minor applies for, and obtains, a licence under this Act, such guardian shall be subject to all the provisions of this Act as if the licence has been granted to himself :
- (2) Every licence shall be granted in such form and subject to such conditions as may be prescribed including conditions as to payment of licence fees not exceeding one hundred rupees.
- (3) The licensing authority may by order in writing refuse to grant a licence if such authority is satisfied-
- (a) that the applicant has not complied with the provisions of this Act or the rules made thereunder in respect of an application for the grant of a licence; or
- (b) that the applicant has made wilful default in complying with or knowingly acted in contravention of any requirement of this Act ; or
- (c) that the applicant has-
- (i) knowingly participated in or connived at any fraud or dishonesty in the conduct of or in connexion with the business of money-lending ; or,
- (ii) been found guilty of an offence under Chapter XVII or Chapter XVIII of the Indian Penal Code (Central Act XLV of 1860) ; or
- (iii) been found guilty of an offence [under section 10-A or section 11] or section 13 on two or more occasions ; or
- (d) that the applicant has had his licence can- celled within six months before the date of application
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