Bare Act Search Results

The Punjab Relief of Indebtedness Act, 1934 Complete Act

State: Punjab

Year: 1934

.....his pay and allowances or pension exceeding his income from agricultural sources. (ii) A debtor shall not lose his status as such by reason of the fact that he makes income by using his plough cattle for purposes of transport. (iii) A debtor shall not lose his status as such only because he does not cultivate with his own hands. (3) " Agriculture " shall include horticulture and the use of land for any purpose of husbandry inclusive of the keeping or breeding of livestock, poultry, or bees, and the growth of fruit, vegetables and the like. (4) "Prescribed" means prescribed by rules made under this part of the Act. Setting up of Debt Conciliation Boards 8. (1) (a) The [State] Government may for the purpose of amicable settlement between debtors and their creditors establish debt conciliation boards. (b) The [State] Government shall define the local limits of the area in which a board shall have jurisdiction. (c) The [State] Government shall determine the pecuniary limits of the jurisdiction of the board, provided that no board shall have jurisdiction to make a settlement between a debtor and his creditors if the total debts of the debtor exceed Rs.10,000 or such.....