The Money-Lenders Act, 1940 (Bengal Act)

1. PreamblePreamble

Chapter I INTRODUCTORY

1. Section 1Short title, extent and commencement
2. Section 2Definitions
3. Section 3Notified bank

Chapter II COMPETENT COURTS AND PROCEDURE

1. Section 4Competent Courts under this Act
2. Section 5Procedure in Competent Courts

Chapter III REGISTRATION AND LICENSING OF MONEY-LENDERS

1. Section 6Appointment of Provincial and other Registrars
2. Section 7Register of money-lenders
3. Section 8Money-lending business not to be carried on except under licence
4. Section 9Licences
5. Section 10Licence fee
6. Section 11Application for licences
7. Section 12Entry in register and grant of licences
8. Section 13Stay of suit when money-lender does not hold licence
9. Section 14Disqualification of persons for holding a licence
10. Section 15Proof of conviction or order for disqualification
11. Section 16Refusal to grant licence
12. Section 17Cancellation of licence by a Sub-Registrar
13. Section 18Power to Registrar and Sub-Registrar to examine any person on oath
14. Section 19Application for cancellation of licence
15. Section 20Court’s power to cancel a licence
16. Section 21No compensation for cancellation of licence
17. Section 22Licence fees and penalties recoverable as public demands
18. Section 23Offences in respect of licences

Chapter IV REGULATION OF ACCOUNTS OF MONEY-LENDERS

1. Section 24Duty of money-lender to keep accounts
2. Section 25Money-lenders to furnish statements of accounts
3. Section 26Borrower not bound by money-lender’s statement of accounts
4. Section 27Procedure in suits relating to loans by money-lenders

Chapter V ASSIGNMENT OF LOANS

1. Section 28Notice and information to be given on assignment of loans by lenders
2. Section 29Application of Act as respects assignees

Chapter VI INTEREST AND OTHER CHARGES

1. Section 30Limitations as to the amount and rate of interest recoverable
2. Section 31Prohibition of interest on decretal amount
3. Section 32Computation of interest on loans in kind
4. Section 33Prohibition of charges for expenses on loans

Chapter VII MISCELLANEOUS

1. Section 34Power of Court to direct payment by instalments
2. Section 35Sale of property in execution of decrees in respect of loans
3. Section 36Re-opening of transactions
4. Section 37Prohibition of execution of decrees by arrest and detention in prison
5. Section 38Inquiry for taking accounts and declaring the amount due
6. Section 39Deposit in Court of money due to lender
7. Section 40Entry of an amount in a bond, etc., different to the amount actually lent to be an offence
8. Section 41Penalty for molestation
9. Section 42General provisions regarding penalties
10. Section 43Protection to persons acting under this Act
11. Section 44Power to make rules
12. Section 45Bengal Act VII of 1933 not to apply to loans to which this Act applies

Schedules

1. ScheduleAny offence punishable under any of the following