(1)Any person may, during the currency of a licence, file an application to the Registrar General for the cancellation of the licence issued to a money-lender on the ground that such money-lender has been guilty of any act or conduct for which the Registrar may under section 8 refuse him the grant of a licence. At the time of filling his application the said person shall deposit such amount not exceeding Rs. 100 as the Registrar General may deem fit.(2)On the receipt of such application and deposit [or of a report to that effect from an officer acting under section 13A] [These words and figures were inserted by Bombay 50 of 1959, Section 4(j).] the Registrar General shall hold an inquiry and if he is satisfied that the money-lender has been guilty of such act or conduct he may direct the Registrar to cancel the licence of the money-lender and may also direct the return of the deposit made under subsection (1).(3)If in the opinion of the Registrar General an application made under sub-section (1) is frivolous or vexatious, he may, out of the deposit made under subsection (1), direct to be paid to the money-lender such amount as he deems fit as compensation.
