Section 4, Local Authorities Loans Act, 1914 [S16-CH5]
As at 6 September 2026. In force from 21 November 1914 by S.O. 1558(E) [N11-DZS].
4. Registration of financials institution.—(1) Every financial institution shall, within seven days from the commencement of this Act or, where such person begins the business of a financial institution after such commencement, within seven days from the date of such beginning, make an application for registration to the Reserve Bank in Form B, accompanied by a fee of two thousand rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No financial institution shall carry on the business of a financial institution unless registered under this section.
Defined terms in this text (2)
financial institution: Section 2, Local Authorities Loans Act, 1914 [S16CFW] (In this Act, unless the context otherwise requires,—): "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934)
financial institution: 25 more definitions.
Reserve Bank: Section 2, Local Authorities Loans Act, 1914 [S16CFW] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (1)
Circular of the Department of Financial Services dated 25th May, 1924 on section 4 of the Local Authorities Loans Act, 1914 [C10-A20], 25 May 1924, in force. The text contains "section 4 of the Local Authorities Loans Act, 1914 (9 of 1914)".
Cited by (3)
Section 24, Local Authorities Loans Act, 1914 [S16-D5C], 11 September 1914, Band A. "section 4".
Section 29, Local Authorities Loans Act, 1914 [S16-DAJ], 11 September 1914, Band A. "section 4".
Rule 3, Local Authorities Loans Act Rules, 1917 [S16-NZJ], 21 September 1917, Band A. "sub-section (1) of section 4 of the Act".
Not held (0)
none
Duties published under this section (1)
D10-A8H. Every financial institution: Apply for registration to the Reserve Bank in Form B, fee two thousand rupees; seven days from the commencement of the Act, or from beginning the activity; Form B. Published by Department of Financial Services, Ministry of Finance (synthetic record).