அதிகாரப்பூர்வ மொழிபெயர்ப்புDepartment of Government Printing-இலிருந்து, மாற்றமின்றி
(1)
A person carrying on a moneylending business or microfinance business (hereinafter referred to as the
“licencee”) shall not –
(a)
open any new place of business;
(b)
outsource its debt collection function, including collection of debt through factoring or similar arrangement;
(c)
in the case of a company –
(i)
establish a subsidiary;
(ii)
amend its Articles of Association;
(iii)
appoint new members to the board of directors; or
(iv)
reduce its capital;
(d)
in the case of a society, change the office bearers;
or
(e)
in the case of a partnership, change a partner, without the prior approval of the Director-General.
(2)
Any licencee who fails to obtain the prior approval of the Director-General as required under subsection (1), may be required to pay a sum of money as an administrative charge, as may be determined by the Authority not exceeding rupees two million.
(3)
The Director-General may issue directions to a licencee, if considered necessary, when granting approval under subsection (1).