Amendment status not verified — confirm the current text below against the official source.
(1) Every money-lender shall annually, before such date as may be prescribed, licence. make an application in the prescribed form for the grant of licence to the Assistant Registrar of the area within the limits of which, the place where he carries on or intends to carry on the business of money-lending is situated. When he carries on or intends to carry on such business at more than one place, a separate application in respect of each such place shall be made to such Assistant Registrar. Such application shall contain the following particulars, namely:- (a) the true name in which such money-lender intends to carry on business and the true name of the person propose to be responsible for the management of the same; (b) if the application is by or on behalf of, - (i) an individual, the true name and address of such individual; (ii) an undivided Hindu family, the true names and addresses of the manager and the adult coparceners of such family; (iii) a company, the true names and addresses of the Directors, Managers or principal officer managing it; (iv) an unincorporated body of individuals, the true names and addresses of such individuals; (c) the area and the place or principal place of the business of money- lending in the State; (d) the name of any other place in the State where the business of money- lending is intended to be carried on; (e) whether the person singing the application has himself or any of the adultcoparceners ofan undivided Hindu family, or any Director, Manager or Principal officer of the company or any member of the unincorporated body on behalf of which such application has been made, as the case may be, has carried on the business of money-lending in the State in the year ending on the 31st day of March immediately preceding the date of application either individually, or in partnership, or jointly with any other coparcener or any other person and whether in the same name or any other name; (f) the total amount which such person intends to invest in the business of money-lending in the year for which the application has been made; (g) if the places at which the business of money-lending is to be carried on are more than one the true names of persons who shall be in the management of business at each such place. (2) The application shall be in writing and shall be signed,- (a) (i) if the application is made by an individual, by the individual; (ii) if the application is made on behalf of an undivided Hindu family, by the manager of such family; (iii) if the application is made by a company or unincorporated body, by the managing director or any other person having control of its principal place of business; (b) by an agent authorized in this behalf by .a power of attorney by the individual money-lender himself, or the family or the company or the unincorporated body, as the case may be. (3) The application shall also contain such other particulars as may be prescribed. ( 4) Every application shall be accompanied by the prescribed licence fee. (5) The fee payable under this section shall be paid in the manner prescribed and shall not be refunded, notwithstanding the fact that the application is withdrawn or subsequently rejected. On receipt of an application under section 5, the Assistant Registrar shall make necessary enquiry to satisfy himself about the bonafides and conduct of the applicant and shall forward the application together with his report, to the District Registrar. Subject to the provisions of th is Act, the District Registrar may, after making such further inquiry, if any, as he deems fit, grant the applicant a licence in such form and subject to such conditions as may be prescribed, and direct the Assistant Registrar to enter the name of such application in the register maintained by him undersection 7; · Provided that, the District Registrar shall grant such licence in the Areas, after recommendation of the Gram Sabha and the Panchayat concerned, and where the area of licence extends to more than one Gram Sabha or Panchayat, then all the concerned Gram Sabhas or Panchayats within whose area of jurisdiction the money- lender carries or intends to carry on the business of money-lending: Grant of licence 6. and entry in register. The Arunachal Pradesh Extraordinary Gazette, May 9, 2018 5 Provided further that, the decision taken by majority of the Gram Sabhas -~ concerned by passing a resolution in any of the above matters shall be binding on the concerned Gram Sabha or Panchayats. Explanation.- For the purposes of this section,- (i) the expressions "Gram Sabha", "Panchayat" and Areas" shall have the 111 of 1959. meanings, respectively, assigned to them in the Arunachal Pradesh Panchayat Raj Act, 1997.