Bare Act Search Results

Usury Laws Repeal Act, 1855 Preamble 1

Title: The Usury Laws Repeal Act, 1855

State: Central

Year: 1855

THE USURY LAWS REPEAL ACT, 1855 [Act, No.28 of 1855]1 [AS ON 1957] [19th September, 1855.] PREAMBLE An Act for the repeal of the Usury Laws. WHEREAS it is expedient to repeal the laws now in force relating: to usury; It is enacted as follows: - -

Usurious Loans Act, 1918 Preamble 1

Title: Usurious Loans Act, 1918

State: Central

Year: 1918

THE USURIOUS LOANS ACT, 1918 [Act, No.10 of 1918]1 [AS ON 1957] [ 22nd March, 1918] PREAMBLE WHEREAS it is expedient to give additional powers to Court to deal in certain cases with usurious loans of money or in kind ; It is hereby enacted as follows : - ________________________ 1. It has been amended in the U.P.by U .P.Act 23 of 1934, in the C.P.by C .P.Act 11 of 1934 , in Madras by Mad.Act 8 of 1937, and in East Punjab by E.P.Act 4 of 1948 .

Usurious Loans Act, 1918 Complete Act

Title: Usurious Loans Act, 1918

State: Central

Year: 1918

Preamble1 - USURIOUS LOANS ACT, 1918 Section1 - Short title and extent Section2 - Definitions Section3 - Reopening of Transactions Section4 - Insolvency Proceedings

Usury Laws Repeal Act, 1855 Complete Act

Title: Usury Laws Repeal Act, 1855

State: Central

Year: 1855

Preamble1 - THE USURY LAWS REPEAL ACT, 1855 Section1 - [Repealed] Section2 - Rate of interest to be decreed by courts Section3 - Section 3 Section4 - Section 4

Usurious Loans Act, 1918 Complete Act

State: Central

Year: 1918

.....transferee for value who satisfies the Court that the transfer to him was bona fide, and that he had at the time of such transfer no notice of any fact which would have entitled the debtor as against the lender to relief under this section. For the purposes of this sub-section, the word "notice" shall have the same meaning as is ascribed to it in section 4 of the Transfer of Property Act, 1882. (5) Nothing in this section shall be construed as derogating from the existing powers or jurisdiction of any Court. OBJECTS AND REASONS "We think it well to commence clause 3 by a specific reference to the Usury Laws Repeal Act, 1855, as the powers conferred by the Bill override pro tanto the provisions of that Act. We have accepted the view that the Court may act under the provisions of this clause suo motu as we attach considerable weight to the body of opinion which suggests this course and have modified the language of the Bill accordingly. We have careful consideration to the question whether there should not be some restriction on the powers of .the Court to re-open agreements closing previous dealings and creating new obligations. We think that there is something to be said for.....

The Usurious Loans Act, 1918 Complete Act

State: Punjab

Year: 1918

.....the enforcement of any agreement or security in respect of a loan 1[or for the redemption of any such security.]. (4) Nothing in this section shall affect the rights of any transferee for value who satisfies the Court that the transfer to him was bona fide and that he had at the time of such transfer no notice of any fact which would have entitled the debtor as against the lender to relief under this section. For the purposes of this sub-section, the word "notice" shall have the same meaning as is ascribed to it in section 4 of the Transfer of Property Act, 1882. (5) Nothing in this section shall be construed derogating from the existing powers or jurisdiction of any Court. 4. Insolvency Proceedings On any application relating to the admission or amount f a proof of a loan in any insolvency proceedings the Court may exercise the like powers as may be exercised under section 3 by a Court in a suit to which this Act applies. -------------- 1 Ins. by Act 38 of 1926, S. 3. Punjab State Acts

The Usurious Loans (Madras Amendment) Act, 1936 Complete Act

State: Kerala

Year: 1936

.....(hereinafter referred to as the said Act), would apply and which are pending on, or are instituted on or after, the date of the commencement of this Act. Section 2 - Amendment of section 3, Act X of 1918 In section 3 of the said Act- (i) in sub-section (1), for the words, letters and brackets beginning with "has reason to believe" and ending with "any of the following powers, namely, may,", the following shall be substituted, namely:- "has reason to believe that the transaction was, as between the parties thereto, substantially unfair, the Court shall exercise one or more of the following powers, namely,-" (ii) the Explanation to the same sub-section shall be renumbered as Explanation II and the following shall be Inserted as Explanation I, namely:- "Explanation I.- If the interest is excessive, the Court shall presume that the transaction was substantially unfair; but such presumption may be rebutted by proof of special circumstances justifying the rate of interest."; (iii) to clause, (b) of sub-section (2)", the following proviso shall be added, namely "Provided that in the case of loans to agriculturists, if compound interest is charged, the Court shall presume.....

Usury Laws Repeal Act, 1855 Complete Act

State: Central

Year: 1855

.....to be calculated at the rate allowed in the judgment or decree upon the principal sum adjudged, or at such other rate as the Court shall think fit. SECTION 04: CONTRACTS FOR USUFRUCT OF PROPERTY IN LIEU OF INTEREST A mortgage or other contract for the loan of money, by which it is agreed that the use or usufruct of any property shall be allowed in lieu of interest, shall be binding upon the parties. SECTION 05: AMOUNT OF INTEREST TO BE DEPOSITED IN CERTAIN CASES OF CONDITIONAL SALES UNDER BENGAL REGULATIONS Whenever, under the Regulations of the Bengal Code, a deposit may be made of the principal sum and interest due upon any mortgage or conditional sale of land hereafter to be entered into, the amount of interest to be deposited shall be at the rate stipulated in the contract, or, if no rate has been stipulated and interest be payable under the terms of the contract, at the rate of twelve per centum per annum. Proviso Provided that, in the latter case, the amount deposited shall be subject to the decision of the Court as to the rate at which interest shall be calculated. SECTION 06: RATE OF INTEREST ON FUTURE ADJUSTMENTS OF ACCOUNTS In any case in which an adjustment of.....

The Pondicherry Usury Laws (Amendment) Act, 1966 Complete Act

State: Pondicherry

Year: 1966

THE PONDICHERRY USURY LAWS (AMENDMENT) ACT, 1966 THE PONDICHERRY USURY LAWS (AMENDMENT) ACT, 1966 (No. 10 of 1966) ARRANGEMENT OF SECTIONS SECTION 1. Short title, extend and commencement. 2. Definitions. 3. Decree of 1935 not to apply to transactions of certain institutions. THE PONDICHERRY USURY LAWS (AMENDMENT) ACT, 1966 (Act No. 10 of 1966) 21st May, 1966 An Act to amend the law regulating the rate of interest chargeable on loans in the Union territory of Pondicherry and for matters connected therewith. Be it enacted by the Legislative Assembly of Pondicherry in the Seventeenth Year of the Republic of India as follows:- Short title, extend and commencement:- 1. (1) This Act may be called the Pondicherry Usury Laws (Amendment) Act, 1966. (2) It extends to the whole of the Union territory of Pondicherry. (3) It shall come into force at once. Definitions:- 2. In this Act, unless there is anything repugnant to the subject or context- (1) "Agricultural Refinance Corporation" means the Agricultural Refinance Corporation established under section 3, of the Agricultural Refinance Corporation Act, 1963 (Act No. 10 of 1963) ; (2).....

Usurious Loans Act, 1918 Section 1

Title: Short Title and Extent

State: Central

Year: 1918

(1) This Act may be called the Usurious Loans Act, 1918. (2) It extends to the whole of India except{Subs.By the Adaptation of Laws (No.3) Order, 1956 , for "Part B States".} [the territories which , immediately before the 1st November , 1956 , were comprised in Part B States] {The words "including British Baluchistan" omitted by the A.O.1948.} (3) The State Government may , by notification in the Official Gazette , direct that it shall not apply to any area , class of persons , or class of transactions which it may specify in its notification.