Section 8Money-lending business not to be carried on except under licence

s. 8

8. Money-lending business not to be carried on except under licence After such date not less than six months after the commencement of this Act as the Government shall, by notification in the official Gazette, appoint in this behalf, no money-lender shall carry on the business of money-lending unless he holds an effective licence. Explanation.- An effective licence for the purposes of this Act comprises a licence issued to a person who is not disqualified for holding a licence.