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State of Uttar Pradesh - Section

Section 31 in The U.P. Regulation Of Money-Lending Act, 1976

31. Repeal of U.P. Act 44 of 1975. -

The Uttar Pradesh Prohibition of Bonded Labour Act, 1975 is hereby repealed.Notification[In exercise of the powers under sub-section (3) of Section 1 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976), the Governor is pleased to appoint September 1, 1976, as the date on which the said Act shall come into force.] [Vide Notification No. 3-3(2)/70-1-5-(1), dated 10.08.1976.]Notifications[In exercise of the powers under sub-section (1) of Section 4 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976), the Governor is pleased to appoint Member, Board of Revenue, incharge, Taxation Work as Registrar General of money-lending for the purpose of the said Act.] [Vide Notification No. 3-3(2)/70-1-5-(ii), dated 10.08.1976.][In exercise of the powers under sub-section (1) of Section 4 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976), the Governor is pleased to appoint the following officers as Registrar of Money-Lending in the entire district to which they are for the time being posted, and such officers shall exercise, perform and discharge the powers, functions and duties of the Registrar in addition to their own duties :-
(a)Every Additional District Magistrate (Executive), in the district where there is such a Magistrate;
(b)Every Additional District Magistrate (Ceiling), in the district where there is such a Magistrate, but there is no Additional District magistrate (Executive);
(c)Every Finance and Revenue Officer in district where there is a neither any Additional District Magistrate (Executive) nor any Additional District Magistrate (Ceiling).]
[In exercise of the powers under sub-section (1) of Section 4 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976), the Governor is pleased to appoint Sub-Divisional Officers in the State as Deputy Registrars of Money-Lending for the purposes of the said Act. they shall exercise jurisdiction over their respective sub-divisions.] [Vide Notification No. 3-3(2)/70-1-5-(iv), dated 10.08.1976.][In exercise of the powers under sub-section (1) of Section 4 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976), the Governor is pleased to appoint in addition to their own duties all Tahsildars in the State as Assistant Registrars of Money-Lending for the purposes of the said Act. They shall exercise jurisdiction over their respective Tahsils.] [Vide Notification No. 3-3(2)/70-1-5-(v), dated. 10.08.1976.]Notification[In exercise of the powers under sub-section (2) of Section 12 of the Uttar Pradesh Regulation of Money-Lending Act, 1976 (U.P. Act No. 29 of 1976)] [Vide Notification No. 3-3(2)/70-1-5-(vi), dated 10.08.1976.], the Governor, after considering the rate of interest normally charged by scheduled banks, for commercials loans, is pleased to notify as under the maximum rate of [simple] [Inserted by Notification No. 3-9(6) 183-(119)-R-5, dated 16.01.1985.] interest that may be charged by the money-lender for secured and unsecured loans :-
Kind of Loan Maximum rate of[simple] [Vide Notification No. 3-3(2)/70-l-5 (vi), dated 10.08.1976.]interest
(i) Secured loan ... ... 14% per annum
(ii) Unsecured loan ... ... 17% per annum
[Vide Notification No. 3-3(2)/70-1-5-(iii), dated 10.08.1976.][Substituted by U.P. Act. No. 1 of 1979 and shall be deemed always to have been substituted.]