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Bare Acts

The Jammu and Kashmir Money Lenders and Accredited Loan Providers Act, 2010

An Act to regulate the transactions of money lending in the 1State of Jammu and Kashmir and for matters connected therewith and incidental thereto. An Act to regulate the transactions of money lending in the 1State of Jammu and Kashmir and for matters connected therewith and incidental thereto.

English PDF

Act Details

Act Number:

23

Act Year:

2010

Location:

Jammu and Kashmir

Enactment Date:

10/23/2010

Enforcement Date:

25-10-2010

Department:

Department of Finance

All Section List

Section 1 to Section 30

Section 1

Short title, extent and commencement.

Section 2

Definitions.

Section 3

Appointment of registering authority.

Section 4

Register of money lenders.

Section 5

Money lender to obtain registration.

Section 6

Duty of money lender to maintain accounts and furnish copies.

Section 7

Submission of accounts, returns etc.

Section 8

Power to require production of records or documents, and power of entry, inspection and seizure.

Section 9

Borrowers not bound to admit correctness of accounts.

Section 10

Procedure in disputes regarding loan.

Section 11

Power of Panchayat or Lok Adalat to deposit money due on loan in Panchayat or Lok Adalat.

Section 12

Suits and applications by un-registered money lenders barred.

Section 13

Registration of accredited loan providers.

Section 14

Submissions of accounts, returns etc.

Section 15

Settlement of disputes.

Section 16

Cancellation of registration.

Section 17

Limitation on rates of interest charged by money lenders and accredited loan providers.

Section 18

Maximum amount of interest recoverable on loans and discharge of loans in certain cases.

Section 19

Entry of wrong sum in bond, etc. to be an offence.

Section 20

Penalty for salami, batta, dharmada etc.

Section 21

Penalty for molestation.

Section 22

Penalty for carrying on business without registration.

Section 23

Penalty for contravention of the provisions of the Act.

Section 24

Composition of offences.

Section 25

Cognizance of certain offences.

Section 26

Every officer to be public servant.

Section 27

Saving of laws relating to agriculturists’ indebtedness.

Section 28

Power to make rules.

Section 29

Power to exempt.

Section 30

Annual report on the administration of the Act.

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