Notification S.O. 3247(E), dated 14th March, 1920 [N11-ECP]

As at 7 September 2026. In force from 14 March 1920.

Dates: made 14 March 1920; in force 14 March 1920; ceased none recorded. Gazette: none recorded. Band A.

Synthetic. This instrument and its words are generated by the register beneath an Act whose title, number and year are real.

Cite: Notification S.O. 3247(E), dated 14th March, 1920, S.O. 3247(E) [N11-ECP]. Machine: N11-ECP.

S.O. 3247(E).—In exercise of the powers conferred by section 10 of the Usurious Loans Act, 1918 (10 of 1918), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts borrowers whose the business of banking does not exceed fifty thousand rupees in value in a financial year from the provisions of section 4 of the said Act, subject to the condition that every such person shall intimate the Reserve Bank in writing of the commencement of the business of banking within seven days of such commencement.

Made under

Recital: "In exercise of the powers conferred by section 10 of the Usurious Loans Act, 1918 (10 of 1918), the Central Government, being satisfied that it is necessary in the public interest so to do". Names section 10 of the Usurious Loans Act, 1918 (10 of 1918) [S16-QP8]. Vires verified.

Acts on (1)

Exempts Section 4, Usurious Loans Act, 1918 [S16-QG4], 14 March 1920. "section 4 of the said Act".

Acted on by (0)

none

Not held (0)

none