Tamil Nadu Money-Lenders (Amendment) Act, 1982*
| [Tamil Nadu Act No. 51 of 1982]* | [5th October, 1982] |
An Act further to amend the Tamil Nadu Money-Lenders Act, 1957.
Be it enacted by the Legislature of the State of Tamil Nadu in the Thirty-third Year of the Republic of India as follows:-
* For Statement of Objects and. Reasons, see Tamil Nadu Government Gazette Extraordinary, dated the 6th September, 1982, Part IV-Sec ion 1, page 432.
* Received the assent of the Governor on the 15th October, 1982, first published in the Tamil Nadu Government Gazette on the 5th October, 1982 (Purattasi 19, Thunthubi, Thiruvalluvars Aandu-2013)
1. Short title and commencement.- (1) This Act may be called the Tamil Nadu Moneylenders (Amendment) Act, 1982.
(2) It shall come into force on such date as the State Government may, by notification, appoint.
2. Amendment of section 14, Tamil Nadu Act XXVI of 1957.- In section 14 of the Tamil Nadu Money-lenders Act, 1957 (Tamil Nadu Act XXVI of 1957) (hereinafter referred to as the principal Act),-
(a) in the marginal heading, for the words "cancel licences", the words "cancel or suspend licences" shall be substituted;
(b) after sub-section (2), the following sub-section shall be inserted, namely:-
"(2-A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in the opinion of the licensing authority any licence granted under this Act is liable to be cancelled under sub-section (1), the licensing authority may, responding cancellation of he licence under sub-section (1) and for reasons to be recorded in writing, suspend any licence granted under this Act and in such a case, no show cause notice is necessary.".
3. Amendment of section 15, Tamil Nadu Act XXVI of 1957.- In section 15 of the principal Act,-
(i) in the marginal heading, after the word "cancellation" the words "or suspension" shall be added;
(ii) after the word "cancellation", the words "or suspension" shall be inserted.
4. Amendment section 16, Tamil Nadu Act XXVI of 1957.- In section 16 of the principal Act,-
(a) in the marginal heading, for the word "cancellation" words "cancellation or suspension" shall be substituted;
(b) for the expression "cancelled under section 14", the expression "cancelled or suspended under section 14" shall be substituted;
(c) for the words "such cancellation", the words such cancellation or suspension" shall be substituted.
5. Amendment section 18, Tamil Nadu XXVI of 1957.- In section 18, of the Principal Act, in sub-section (1), in the Explanation, for the word "cancellation", the words "cancellation or suspension" shall be substituted.