- In this Act, unless there is anything repugnant in the subject or context, -(1)"City of [Chennai] [Substituted for the word 'Madras' by section 3 of the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).]" includes all places within the local, limits of the ordinary original jurisdiction of the High Court of Judicature at [Chennai] [Substituted for the word 'Madras' by section 3 of the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).];(2)"Company" means a company - (a) registered under any of the enactments relating to companies for the time being in force [in India or] [Substituted by section 4 of and the Third Schedule to the Tamil Nadu Repealing and Amending Act, 1957 (Tamil Nadu Act XXV of 1957), for the words 'in any State or' which were inserted by the Adaptation (Amendment) Order of 1950.] in the United Kingdom or in any of the British Dominion or in any of the Colonies or Dependencies of the United Kingdom [***] [These words 'or in British India, or any State in India' were omitted by the Adaptation (Amendment) Order of 1950.]; or(b)incorporated by an Act of Parliament [of the United Kingdom] [These words were inserted by the Adaptation (Amendment) Order of 1950.] or by Royal Charter of Letters Patent or by any [Central Act] [These words were substituted for the words 'Act of the Indian Legislature' by the Adaptation (Amendment) Order of 1950.];(3)"co-operative society" means a society registered or deemed to be registered under the [Madras Co-operative Societies Act, 1932;] [Now the Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983).][(3-A) "Inspector" means an Inspector appointed under sub-section (1) of section 10-B;] [This clause was inserted by section 2( i) of the Tamil Nadu Pawnbrokers (Amendment) Act, 1961 (Tamil Nadu Act 31 of 1961).](4)"interest" does not include any sum lawfully charged in accordance with the provisions of this Act by a pawnbroker for or on account of charges, but save as aforesaid, includes any amount, by whatsoever name called, in excess of the principal, paid or payable to a pawnbroker in consideration of or otherwise in respect of a loan;(5)"loan" means an advance of money or in kind at interest, and includes any transaction which the Court finds in substance to amount to such an advance, but does not include -(i)a deposit of money or other property in a Government Post Office Savings Bank or in a company or with a co-operative society;(ii)an advance made by a banking company as defined in [section 5 (1) (c) of the Banking Companies Regulation Act, 1949 (Central Act 10 of 1949)] [These words, figures, brackets and letter were substituted for the words, figures and letter 'section 277-F of the Indian Companies Act, 1913' by section 2(ii) of the Tamil Nadu Pawnbrokers (Amendment) Act, 1961 (Tamil Nadu Act 31 of 1961).] or a co-operative society;(iii)an advance made by Government or by any person authorised by Government to make advances in their behalf, or by any local authority;(iv)an advance made by any person bona fide carrying on any business not having for its primary object the lending of money, if such loan is advanced in the regular course of such business; and(v)an advance made by a landlord to his tenant, by a lessor to his lessee, or by one partner in cultivation or co-sharer to another for the purpose of carrying on agriculture;(6)"pawn broker" means a person who carries on the business of taking goods and chatties in pawn for a loan.Explanation. - Every person who keeps a shop for the purchase or sale of goods or chatties and who purchases goods or chatties and pays or advances thereon any sum of money, with or under an agreement or understanding expressed or implied that the goods or chatties may be afterwards repurchased on any terms is a pawnbroker within the meaning of this clause;(7)"pawner" means a person delivering an article for pawn to a pawnbroker;(8)"pledge" means an article pawned with a pawnbroker;(9)"prescribed" means prescribed by rules made under this Act;(10)"principal", in relation to a loan, means the amount actually lent to the pawner; and(11)"year" means the financial year.
