Amendment status not verified — confirm the current text below against the official source.
Term of licence.— A licence shall be valid 1[for a term of 2[three years]2 ]1: Provided that where a money-lender holding a licence has made an application for a fresh licence before the date prescribed under sub-section (1) of section 6, for the succeeding 1[term]1, such money-lender shall, notwithstanding the expiry of the term of his licence, be deemed to have a valid licence until orders are received by him on his application for the fresh licence.