Amendment status not verified — confirm the current text below against the official source.
nies Act, 1949,)l or a co-operative society ; (iii) an advance made by Government or by any person authorized by Government to make advances in their behalf, or by any local authority. -- 1 This clause was inserted by section 2 (i) of the Tamil Nadu Pawnbrokers (Amendment) Act, 1961 (Tamil Nadu Act 31 of 1961) Whese words werc substituted for the word " company " by section' 2 of the Madras Pawnbrokers (Amendment) Act, 1945 (Madras Act XXVI of 1945). (Section 1 of this Act came into force on the 1st January 1946 and section 2 on the expir of 3 months from the 1st January 1946. The Act was repealed & Tamil Nadu Act VII of 1948.) I These words, flgurm, brackets and letter werc substituted for the words, figures and letter "section 277-F of the Indian Companies 1 Act, 1913 " by section 201) of tho T a d Nadu Pawnbrokers (Amend- ment) Act, 1961 (Tamil Nado Act 31 d. 1961). * Now tbe Tamil Nadu Co=opcratlva Socioticr Act, 1961 (Tamil . Nadu Act 53 of 1961). 12% 14-57 A 1 - - -- (iv) an advance made by any person bona fi(le carrying on any business not having for its priulary object the lending of money, if such loan is advanced In the regular course of such business ; and (v) an advance made by a landlord to his tenant, by a lessor to his lessee, or by one partner in culti- vation or co-sharer to another for the purpose of carrying on agriculture ; (6)" pawnbroker " means a person who carries on the business of taking goods and chattels in pawn for a loan ; Explanation.-Every person who keeps a shop for the purchase or sale of goods or chattels and who purchases goods or chattels and pays or advances thereon any sum of money, with or under an agree- ment or understanding expressed or implied that the goods or chattels 9 be afterwards re-purchased on any terms is a pawnbroker within the meaning of this clause ; (7) " pawner " means a person delivering an article for pawn to a pawnbroker ; (8) " pledge " means an article pawned with a pawnbroker ; (9) "prescribed" means prescribed by rules made under this Act ; (10) "principal " in relation to a loan means the amount actually lent to the pawner ; and (1 1) " year " means the financial year. 1943: T.N. Act XXm] Pa 961 Expkmati0n.- Where a pawnbroker has more I than one shop or place of business, whether in the same town or village or in different towns and villages, / he shall obtain a separate pawnbroker's licence in res- pect of each such shop or place of business. & h (2) Every pawnbroker's licdnce granted under b this Act shall expire on the last day of the year for which it was granted, but may be renewed from year to year. I