Amendment status not verified — confirm the current text below against the official source.
Substituted by G.O.Ms.No.46, Law (F) Department, dated 01.06.2016. * Now see Companies Act, 2013 (Central Act 18 of 2013). Definitions. Short title, commencement and extent. Central Act 1 of 1956. Central Act 1 of 1956. 2 [Act No.V of 1349 F.] (3) ‗co-operative society‘ means a society registered under the 3Hyderabad Co-operative Credit Societies Act No. II of 1323 F. (4) ‗loan‘ means a loan secured or unsecured, advanced on interest in cash or in kind, and shall include every transaction which is in substance a loan, but shall not include the following:- (a) a deposit of money or other property in a Post Office or in a bank or in a company or with a co-operative society; (b) a loan to or by and deposit with, any society or association registered under any law; (c) a loan advanced by Government or by any local authority authorised by Government; (d) a loan advanced by a bank, a co-operative society or a company; (e) a sum of money advanced on the basis of a negotiable instrument as defined in 4[the Negotiable Instruments Act, 1881] other than a promissory note; (f) a loan advanced to an agricultural labourer by his employer; (g) a loan advanced by one trader to another trader in the ordinary course of business, in accordance with practice in trade;