Amendment status not verified — confirm the current text below against the official source.
J\ ny agreement between a money-lender of cnarge lor · • £ h openses en and a borrower or mtendmg borrower or t e \:·d~~ mooe;y- payment by the borrower or intending borrower to the money-lender of a.ny sum on account of costs, charges or expenses incidental to or rola.tiog to the negotiations for or the granting of the loan or proposed loan shall be illegal, a.ud if any sum is pa.id to a. money-lender by a borrower or intending borrower ae for or on account of any such costs, charges or expenses, that sum shall be recoverable as a debt due to the borrower or intending borrower, or, in the event of the loan being completed, Bhall, if not so recovered. be set off against the amount actually lent and that amount shall be deemed to be reduced accordingly. Exceptioo.-This will not deba.r money-lenders from recovering reasonable costs of inspection of Revenue or Registration records including exami- nation of titles and also costs of inspection of pro- perty, in cases where the contract includes a stipulation that property is given a.s security or 1'y way of mortgage and where both parties have agreed to such costs and reimbursement there of. • \ \ ' •'. I"~~- "-. ,,,..., l ~·• rnn. ~· ·"· :P.R 4lf i. -..w. ,'HU.(lUC' 3 !ce:':f.. 01