Section 7A(3) in The Karnataka Money-Lenders Act, 1961
(3)For the purposes of sub-section (2), the amount of the security payable in a year by a licensee shall be determined on the basis of the the amount invested by him in the business during the previous year and such security deposit shall not carry any interest:erson who was a licensee only for a portion of the preceding year the amount of security shall be determined on the basis of a declaration in the prescribed form as to the amount which he is likely to invest during the year, filed before the Registrar in the prescribed manner.
