A BILL............MONEY-LENDING 281
Agreement to pay arrears of interest void.
Any agreement entered into by a debtor to pay any arrears of interest due on a loan shall be void.
Chapter VIII.
Proceedings in respect of offences
All offences cognizable.
- All offences under this Act shall be cognizable and shall be triable by any Magistrate.
Appeals from convictions or acquittals.
- An order of conviction or acquittal passed under this Act in respect of any offence under this Act shall be appeallable in the same manner as if it was an order passed under the Code of Criminal Procedure, 1898.
Chapter IX.
Supplemental
Power to make rules.
- (1) It shall be lawful for Government to make rules prescribing (a) the form of the certificate and the license to be granted to the money-lender,
(b) the procedure to be followed in making applications for certificates and licenses,
(c) the authorities empowered to grant licenses and certificates, to issue books of accounts, pass books, memorandum and their form,
(d) procedure in respect of appeals from orders passed under the provisions of this Act,
(e) the form of account books, pass books and the method of authentication,
(f) the forms of the annual statements of accounts to be submitted by the money-lender to his debtor,
(g) fees for the supply of account books, pass-books etc.,
(h) charges payable by the debtor to the money-lender in respect of loans.