Mizoram act 012 of 2011 : The Mizoram Money Lenders and Accredited Loan Providers (Regulation) (First Amendment) Act, 2011

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The Mizoram Gazette

EXTRA ORDINARY

VOL - XL Aizawl, Wednesday 20.7.2011 Asadha 29, S.E. 1933, Issue No. 304 Published by Authority

RNI No. 27009/1973 Postal Regn. No. NE-313(MZ) 2006-2008 Rs. 1/- per page

NOTIFICATION

No.H.12018/213/2010-LJD, the 18thJuly, 2011. The following Act of the Mizoram Legislative Assembly which received the assent of the Governor of Mizoram is hereby published for general information. The Mizoram Money Lenders and Accredited Loan Providers (Regulation) (First Amendment) Act, 2011 (Act No. 12 of 2011.

{Received the assent of the Governor of Mizoram on the 13thJuly, 2011}

A N

ACT

to amend the Mizoram Money Lenders and Accredited Loan Providers (Regulation) Act, 2010 (Act No. 12 of 2010) (hereinafter referred to as the Principal Act). It is enacted by the Legislative Assembly of Mizoram in the sixty second year of the Republic of India as follows :-

: (1) This Act may be called the Mizoram Money Lenders and Ac-

credited Loan Providers (Regulation) (First Amendment) Act, 2011.

(2) It shall come into force from the date of publication in the Mizoram Gazette.

: Sub-section (4) of section 1 of the Principal Act shall be substi- tuted by the following, namely-

"(4) Nothing contained in this Act shall apply to the Reserve Bank or any bank".

Sub-section (1) of section 2 of the Principal Act shall be substi- tuted by the following, namely-

2. Amendment of Section 1

1. Short title and commencement

1

"(1) "Accredited Loan Provider" means a person or a firm who or which has contractual arrangement with an institutional creditor for receiving finance from such institutional creditor for the purpose of lending to the borrowers in his or its own name, and it includes any Non-Banking Financial Companies/Micro Finance Companies registered under the Reserve Bank of India".

Sd/-Secretary,

Law & Judicial Department, Govt. of Mizoram.

Published and Issued by Controller, Printing & Stationery Department, Government of Mizoram Printed at the Mizoram Government Press, Aizawl. C/650

3. Amendment of Section 2.

Ex-304/2011 2

2

SECTIONS