Amendment status not verified — confirm the current text below against the official source.
1n any proceeding for recovery of a debt, the of court shall scale, down 3[all interest whether paid or interest payable] on any debt incurred by an agriculturist payable by '[on or after the 1st March 19721, so as not to exceed a ;$;;:u- sum calculated at '[nine per cent per annum), new loans simple interest, '[ 1: Providcd that the '[State] Government may, by notification in the Official Gazette, alter and fix ally other rate of interest from time to time. _ -. _ _I*C_- _ _ _-__ _ _ _ 1 This expression was substituted fol the expression "or otherwise" by ~ e c t ~ o n 12 (i) of the Tamil Nndu Agriculturists Relief (Amend- ment) Act, 1972 (Tamil Nadu Act 8 of 1973). * Tile wolds " that is to say, one pie per rupee per mensem sirnnlc ~lltcrest, or one ,lnll:l p-1 fUpX p:, .... lum ;ilnple interer! " occurrln:, ,, the provl5o weraomitted by ?stion2 of, and the Schedule to, thc T.inlil Nadu Coiaclgc (Alterdtlon of Reference,) Act, 1960 (Tamil ~ , ~ ~ l u Act 9 of 1960) : the pro\i\o it\e!! was omitted by section 12 (i~) tllt: Tiimil N'iilu Agrlsulturisi~ Relief (Amendment) Act, 1972 (Tam11 Nadu Act 8 of 1973). a his expreoio~~ wab ruh~t~tutcd P)r ($exprosion ..all interest dLLe" by section 13 (i) (11) of t!le Tamil Nadu Agrizulturirts Relief ( ~ ~ ~ ~ ~ ~ l ~ ~ l e n t ) Act, 1972 (T.~nul Naci 11 Act 8 of 1973). $This clcpres>io~l wau ~ub,tit~tcd fo! the expression after (hc cc,l,,lllenccnwnt of this Act " bv sect ton 13 (i) (b) , ibid r eupr6ssion WAS wbbtttuced fob tile expres,lon " 6 t per cent ppr annum " by scction 13 (1) (c) , ibid. ~ 1 1 ~ word, "that 1% to ~ l i y , one pie pcr rupee per nlenqeln simple ~ntorest, 131' One ;itifla Per rupee per arinum simp:a fiterest " wcle om~ttcd by bec.tion 2 of, and the Schedule to. the Talull Ndd" Coinage (A1lrr:~tlon of P.ef@ren~s) Act, 1960 (Tam,] ~ ~ d u Act 9 of I9bO). I - This word was substituted for the word "Provincial by the .- Jaytation Order of 1950. I ," ;f' - 588 Agn'culturists Be 11938 : T.N. Act IV '[Explanorion ].-For the purpose E of this section, the definition of 'a,oricc~ltilrist' in section 3 (ii) shall be read as if- (I) in proviso (A) to that section as amended by the Tamil Nadu A,ori:uIturists Relief (Arnend~nenr) Acr. 1972, for the expression 'the financial years ending on the 3151 MlrA 1372 ' the expression 'the financ..il yearb e ~ i ~ i l = o? tile 31s: M'xrch imme- dir,te!y piei~ding the ci:~te on 1: hich the d:St is in- 1 cu .I.cJ'- ~ V C Y ~ ~!lbj:l -:t2d ; '1r1;1 {ii) i r l p!o~.is,.)s (B) and (C) ro that s:::iol~ as amendrtl t';' t h t Tilmli Nadi! A~ric:lltl!;i.;ts Relief (.&ner~iimen!) Act. 1972. for t t ~ t expression 'the f'ol~r halt >tars inlmediatrly prer:eding the I st R,l;xrc'n 1972', th > expresjl,:,:~ ' t Iic' bur h;.lt' ycnl-s d i n g on the 31st M i r t h or I?:: 30~11 S-.p:t:mb::r (\\.i~:ci;cvc- is 1n:c.r) irnnle- di itc'y pre::.i;r~s th: cirtti. 011 \vl:icil ti12 debt is i~~,:t~r:,ea.i' i ~ , i r e S L I ~ S : i:~! c c i . . . I '[l.3-.4. WI1~t.i~ .I dcbr I \ ~!~curruii b:\, a p~l-s:,~~ t V ~ ! I O \\,o~~l.! h: :LI~. :!:;,.;,: &~tjrist :I,$ tl:;Jj-.t:~! s c ~ . ~ i o , t ,? < by (.iij b,!!. i.i',i+ ';c 01?.:1'.iti011 of IJI.L.~\,;:;O (8) 0 . />I.OV; ,,) ~ ) l l (C) !,,! i ! i : ~ ' .-::; ii),I. [!I: rat,? of i!l[crcst :~pp[ic. b!: to t I > i dt b: \ i ~ . l ! i b,: thc r.;ltc. :il-q)lic;lhii* t o il 1111cl~i. thc I;I\v, C!.S~OIII, CO!I~:.;:L'I