அதிகாரப்பூர்வ மொழிபெயர்ப்புDepartment of Government Printing-இலிருந்து, மாற்றமின்றி
(1)
(a)
A licensed moneylender (hereinafter referred to as the “moneylender”) who wishes to renew its licence shall be required to make an application for the same, not less than sixty days prior to the date of the expiry of the licence issued.
(b)
The application for the renewal of a licence shall be made in writing to the Director-General in such form, accompanied by such documents or information and a processing fee as may be set out in rules made in that behalf. The provisions of subsection (3) of section 22 of this
Act shall, mutatis mutandis apply to and in respect of the processing of such application.
(2)
An application made after the time specified in subsection (1) of this section may be accepted by the
Director-General up to thirty days before the date of expiry of the licence, subject to an administrative charge not exceeding rupees two million.
(3)
Where a licensed moneylender fails to apply for a renewal of a licence under subsections (1) and (2) of this section, such moneylender shall be prohibited from applying for a new licence within a period of one year from the date of expiry of the licence issued to him.